By Will Feuer
Toronto stocks were firmly lower Monday as investors around the world generally sold stocks amid fears that global inflation has yet to peak.
Nearly every sector was trading lower, with shares of cryptocurrency-connected companies such as Hut 8 Mining Corp. and other tech companies dragging the market down. Base metals and healthcare stocks also brought the market lower.
Canada’s S&P/TSX Composite Index was down 1.98% at 19873.06 and the blue-chip S&P/TSX 60 fell by 1.76% to 1201.83.
Vancouver-based uranium and cobalt exploration and development company UEX Corp. was among the few Canadian stocks trading in the green, after it said it had agreed to be bought by Texas-based Uranium Energy Corp.
Shares of UEX trading in Toronto gained nearly 23% to trade at C$0.35 in the midday, while shares of Uranium Energy tumbled almost 12%.
Other market movers:
Shares in Canada-based marijuana companies were hit particularly hard as investors looked to pare risk.
Nasdaq-listed shares of Canopy Growth Corp. fell almost 7% in midday trading to $3.41, while Aurora Cannabis Inc. stock tumbled almost 9% to $1.27.
Write to Will Feuer at Will.Feuer@wsj.com
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