North American stocks fell at the start of trading on Monday, with investors continuing to feel nervous about the U.S. Securities & Exchange Commission's charges against Goldman Sachs Group Inc., and their potential to spread to other financial firms.
The Dow Jones industrial average fell 23 points, to 10,996. The broader S&P 500 fell 2 points or 0.2 per cent, to 1190.
Financials were among the worst hit, with Goldman Sachs falling 3.1 per cent and Bank of America Corp. falling 1.9 per cent. However, Citigroup Inc. was a notable exception, rising 2.5 per cent after the firm reported a quarterly profit of $4.4-billion before the opening bell.
In Canada, the decline was far more severe, and led by commodities producers. The S&P/TSX composite index fell 111 points or 0.9 per cent, to 11,960.
Suncor Energy Inc. fell 2.4 per cent and Canadian Natural Resources Ltd. fell 1.6 per cent after the price of crude oil continued its slide. Oil fell more than $2 (U.S.) a barrel, taking it below $81.
Among gold producers, Barrick Gold Corp. fell 1.5 per cent and Goldcorp Inc. fell 0.8 per cent.
The Big Banks also declined in early trading. Toronto-Dominion Bank fell 0.6 per cent and Royal Bank of Canada fell 0.5 per cent