TSX Ends Sharply Lower As Coronavirus Fears Hurt Sentiment

(RTTNews) - The Canadian stock market suffered one of its worst setbacks in recent months on Friday as worries about the impact of the rapidly spreading coronavirus attack on the economy triggered a sell-off almost across the board.

Markets in Europe fell and U.S. stocks tumbled as well, as the death toll from the disease continues to rise.

Chinese officials said 213 people have died from the coronavirus, while the number of confirmed cases has risen to more than 9,800.

The U.K. and Russia have also confirmed their first cases of coronavirus infection.

The benchmark S&P/TSX Composite Index ended down 172.07 points, or 0.98%, at 17,318.49, nearly 50 points off the day's low of 17,272.73. The index shed about 1.4% in the week.

Energy, healthcare and consumer discretionary shares were among the most prominent losers. Information technology, industrial and financial shares also ended mostly lower. A few stocks from materials section edged higher.

Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), Encana Corp (ECA.TO), Canadian Natural Resources (CNQ.TO), Husky Energy (HSE.TO), Cenovus Energy (CVE.TO), Suncor Energy (SU.TO), Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO) and Imperial Oil (IMO.TO) lost 2 to 6%.

Healthcare stocks Canopy Growth Corp (WEED.TO), Bausch Health Companies (BHC.TO), Cronos Group Inc. (CRON.TO), Aphria Inc. (APHA.TO), Aurora Cannabis (ACB.TO), Extendicare Inc. (EXE.TO) and Hexo Corp (HEXO.TO) lost 1 to 3.2%.

Consumer discretionary stock Canada Goose Holdings (GOOS.TO) declined 5.6%. Gildan Activewear (GIL.TO) ended down 3.7%. Mty Food Group (MTY.TO), Linamar Corp (LNR.TO), Dollarama (DOL.TO) and Martinrea International (MRE.TO) lost 2 to 3%.

In the financial space, Manulife Financial Corp (MFC.TO), Bank of Montreal (BMO.TO), Power Corporation of Canada (POW.TO), Laurentian Bank (LB.TO), Onex Corp (ONEX.TO), CDN Western Bank (CWB.TO) and Canadian Imperial Bank of Commerce (CM.TO) declined 1 to 2.7%.

Gold stocks Yamana Gold (YRI.TO), Detour Gold Corp (DGC.TO), Osisko Gold Royalties (OR.TO), Kirkland Lake Gold (KL.TO), Alacer Gold (ASR.TO), Centerra Gold (CG.TO), Oceanagold Corp (OGC.TO), Kinross Gold Corp (K.TO) and Torex Gold Resources (TXG.TO) ended with strong gains.

In economic news, data from Statistics Canada showed Canada's Industrial Product Price Index edged up 0.1% in December, driven primarily by higher prices for primary non-ferrous metal products.

The agency's raw materials price index hiked 2.8%, mainly due to higher prices for crude energy products.

Meanwhile, Gross Domestic Product edged up 0.1% in November, offsetting most of the decline in October.

On Wall Street, the Dow plummeted 2.1%, the Nasdaq tumbled 1.6% and the S&P 500 plunged 1.8%.

Asian markets turned in a mixed performance on Friday, while markets in Europe ended notably lower.

In commodities, West Texas Intermediate Crude oil futures for March ended down $0.58, or about 1.1%, at $51.56 a barrel, the lowest settlement for a front-month contract in nearly six months.

Gold futures for April ended down $1.30, or 0.08%, at $1,587.90 an ounce.

Silver futures for March ended up $0.020 at $18.012 an ounce, while Copper futures for March settled down $0.0070 at $2.5170 per pound.