Canada's main stock index fell 0.9% on Monday as investors sold banking shares amid a global sell off on fears of contagion risk from the collapse of Silicon Valley Bank (SVB), but gains in gold miners helped offset some of the declines.
provisionally closed down 186.02 points at 19588.90, recovering from the day's low of 19,427.53, which was the lowest since Jan. 5.
"The Canadian banks, most of them have some exposure into the U.S.. Bank of Montreal , TD all have exposure in the U.S. so there is some concern around those ones," said Mike Archibald, a portfolio manager at AGF Investments.
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