TSX Drops 170 Points As Energy Stocks Suffer -- Canadian Commentary

(RTTNews) - Canadian stocks tumbled Monday, joining a global rout brought on by fear of conflicts between the U.S. and some of its biggest trading partners.

President Donald Trump's protectionist policies have drawn some scrutiny, but stocks remain near record highs.

Also, Trump suspended the entire U.S. refugee program for four months and banned for 90 days entry into the U.S. of nationals from Iran, Iraq, Libya, Somali, Sudan, Syria and Yemen, which are predominantly Muslim countries.

The S&P/TSX Composite Index was down 170.69 points, or 1.1 percent, to 15,405.12.

Energy stocks plunged 2.5 percent, as March WTI oil fell 54 cents, or 1%, to settle at $52.63/bbl.

On the U.S. economic front, the Commerce Department released a report showing that personal income increased by slightly less than expected in the month of December.

Dominion Diamond (DDC.TO) Chief Executive Officer Brendan Bell has resigned.

Pacific Exploration & Production appointed Barry Larson As CEO.