Canadian Market Down Firmly In Negative Territory

(RTTNews) - The Canadian market is down firmly in negative territory Monday afternoon, weighed down by sharp losses in technology, materials and energy sectors. Technology stocks are down amid concerns about the impact of China's low-cost AI startup DeepSeek on earnings and growth of major players in the AI sector in the U.S. and other parts of the world. Materials and energy stocks are weighed down by weak commodity prices. Investors look ahead to monetary policy announcements from the Bank of Canada, Federal Reserve and the European Central Bank this week. The benchmark S&P/TSX Composite Index is down 217.34 points or 0.85% at 25,251.15. The Information Technology Capped Index is down more than 3.5%. Celestica Inc (CLS.TO) is plunging nearly 26%.