The Canadian Press

The Toronto stock market finished lower on Monday as commodities stocks weakened.

The S&P/TSX composite index dropped 5.02 points to close at 12,008.80.

On the downside were energy stocks, with the sector off 1.3% on worries about lower demand. The April crude oil contract slipped US$1.44 to close at US$79.80 a barrel on the New York Mercantile Exchange.

The TSX global gold index stepped back 0.5% even as debt risks lifted the April bullion contract US$3.70 to US$1,105.40 an ounce.

The Canadian dollar was off 0.13 of a cent at 98.07 cents US.

New York markets were also negative as the Federal Reserve gets set to meet Tuesday to discuss interest rate policy. The Dow Jones industrial average gained 17.46 points to 10,642.15, while the Nasdaq composite index declined 5.45 points to 2,362.21 and the S&P 500 lifted 0.52 of a point to 1,150.51.