Cautious investors continued to lock in profits Monday. As a result, the S&P/TSX composite index closed down 32.31 points to 8,609.62, its fourth-straight lower close.

Technology stocks were bore the brunt of selling with the information technology sector dropped 3% to lead all falling sectors, while a 0.6% slide by the materials group also added downward pressure.

Hummingbird fell $1.50, or more than 4%, to $32.50, and Open Text shed $1.63 to $37.25.

ATI Technologies fell 73¢ cents, or 3%, to $21.20, while contracts Celestica shed 55¢, or 2.4 %, to $22.40.

The materials sector took a hit on lower nickel prices after more than 1,000 workers at Falconbridge’s operations in Sudbury, Ont., ratified a new contract, ending a strike that began Feb. 1.

Falconbridge traded down 26¢ to $34.34, while Inco lost $1.16 to $47.74.

The junior S&P/TSX Venture composite index fell 48.99 points, or 2.56%, to 1,865.00.

In New York, stocks fell for the fourth straight session, with the Nasdaq Composite Index hitting its lowest level this year

The tech-heavy Nasdaq closed down 30.41 points, or 1.49%, at 2,007.52. The Dow Jones industrial average finished down 9.41 points at 10,609.62. The S&P 500 slipped 3.12 points, to 1,140.99.

The Canadian dollar rose 0.03¢ to close at US74.81¢.