Canadian Stocks Fall Along With Oil Prices -- Canadian Commentary

(RTTNews) - Canadian stocks fell sharply Monday as plunging oil prices continued to hurt the energy sector.

At last check, the S&P/TSX Composite Index dropped 241.88 points, or 1.9 percent, to 12,522.11, heading back near January's 3-year lows.

Crude oil prices tumbled amid lingering doubts about the health of the global economy.

Crude oil for March was down 1 dollar at $29.89 a barrel, moving back near 12-year lows from mid-January.

Energy stocks dropped 2.4 percent, while financials lost 2.1 percent.

Gold shares provided a measure of support, rising 5 percent on safe haven buying.