The Canadian stock market selloff continued for the second consecutive session on Monday as concerns about elevated interest rates and their impact on economic growth continued to keep investors on edge. Despite a strong rise in crude oil prices, the S&P/TSX Composite Index gave up another 231 points, or 0.9%, to close at 24,536.
While all key sectors ended the session in negative territory, the market selloff was mainly led by sharp intraday declines in healthcare, mining, and utility stocks.
Top TSX Composite movers and active stocks
Bausch Health (TSX:BHC) plunged by 6.4% to $10.65 per share after its subsidiary Bausch + Lomb (TSX:BLCO) announced the acquisition of Whitecap Biosciences. The deal is likely to add promising therapies for glaucoma and geographic atrophy, which are considered leading causes of vision loss, to the Canadian pharmaceutical giant’s pipeline.
In a press release, Bausch + Lomb also highlighted that…
