TORONTO - The Toronto stock market closed significantly lower as resource stocks lost ground on sinking commodity prices amid concerns over the economic impact of Japan's continuing nuclear crisis.
The S&P/TSX composite index lost 146.66 points to 13,892.73.
The Canadian dollar was up 0.54 of a cent to 102.40 cents US after Canada's top central banker sounded a warning about inflation over the weekend, suggesting interest rates may not be on hold much past a spring federal election.
Bank of Canada governor Mark Carney said Saturday that sustained growth from emerging economies means high commodity prices are expected to stick around for a long time.
Howver, oil prices fell $1.42 to US$103.98 a barrel on the New York Mercantile Exchange, as the market focuses on Libya. Rebels retook control of two key port towns and said they would resume exporting crude within weeks.
Wall Street stocks fell late afternoon from earlier gains. The Dow Jones industrial average fell 22.71 points to 12,197.88. The S&P 500 lost 3.61 points to 1,310.19 and the Nasdaq was down 12.38 points to 2,730.68.
