Canada's main stock index lagged on Tuesday, as materials and technology stocks declined on the back of weak services sector data from China, while investors braced for the Bank of Canada's (BoC) interest rate decision this week.
The TSX plunged 131.6 points to close Tuesday at 20,413.76.
The Canadian dollar slid 0.22 cents to 73.31 cents U.S.
Markets throughout North America were closed Monday for Labour Day.
Gold stocks weighed most heavily, as Equinox Gold dived 28 cents, or 4.2%, to $6.42, while Novagold Resources skidded 23 cents, or 4%, to $5.46.
Materials also got bruised, First Quantum Minerals shedding two dollars, or 5.4%, to $35.09, while Capstone Mining handed back 30 cents, or 4.6%, to $6.16.
Among communications outlets, Rogers capsized 83 cents, or 1.5%, to $55.01, and TELUS surrendered 31 cents, or 1.3%, to $23.50.
Health-care concerns tried to lift things up, with Tilray jumping 20 cents, or 4.9%, to $4.25.
In the energy field, Tamarack Valley picked up five cents, or 1.3%, to $3.90, while Athabasca Oil took on six cents, or 1.5%, to $3.96.
Consumer staples also broke breakeven, with Metro taking on one dollar, to 1.4%, to $71.50, while George Weston advanced $1.17 to $153.87.
The TSX Venture Exchange gained 2.99 points to 594.51.
All but three of the 12 TSX subgroups slid by the close, with gold and materials each fading 1.7%, communications off 0.9%.
The three gainers were health-care, up 0.7%, energy, surging 0.4%, and consumer staples, nicking up 0.1%.
Stocks fell on Tuesday to conclude the first trading day of a holiday-shortened week, weighed down by a jump in crude oil prices.
The Dow Jones Industrials tumbled 195.74 points to reach noon EDT at 34,641.97.
The S&P 500 index declined 18.94 points to 4,496. 83
The NASDAQ index dipped 10.86 points to 14,020.95.
Oil prices rose after Saudi Arabia extended its one-million-barrels-per day voluntary oil production cuts. West Texas Intermediate futures popped more than 1% to trade near $87 per barrel, reaching their highest levels since November.
The news lifted energy stocks, with the S&P 500 sector last up about 1%. Shares of Halliburton and Occidental Petroleum each added more than 2%, while EOG Resources rose 1.8%. The uptick in oil pressured airline and cruise stocks, with American Airlines, United Airlines, Delta Air Lines and Carnival shed more than 2%.
Over the extended holiday weekend, Goldman Sachs cut its recession odds to 15% and said it anticipates the Federal Reserve skipping a rate hike at its policy meeting later this month.
Prices for the 10-year Treasury sagged, raising yields to 4.27% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices climbed $1.06 to $87.09 U.S. a barrel.
Gold prices dropped $15.20 to $1,951.90 U.S. an ounce.