Information technology stocks were the big losers on the Toronto Stock Exchange on Monday dragging the S&P/TSX composite index down 74.48 points to close at 6,571.44.

Declines were broad-based as every industry group except energy ended lower.

The information technology group lost 3.45%. Nortel fell 14¢ to $1.41. Research in Motion lost 85¢ to $15.65; ATI Technologies slid 37¢ to $9.55; and Celestica dropped 45¢ to $31.80.

Financials fell back 1.5%. Royal Bank lost 94¢ to $53.56 and Bank of Montreal fell 62¢ to $36.25.

Canadian airline stocks felt some pain from US Airways weekend filing for bankruptcy protection. Air Canada lost 25¢ to $6.01; Transat AT fell 22¢ to $7.11. WestJet dropped 18¢ to $20.10.

Energy stocks were the one bright spot Monday. EnCana rose 35¢to $45.35; Petro-Canada added 15¢ to $46.05; Canadian Natural Resources gained 35¢ to $52.50. But the gains were not sector-wide, as Suncor, Husky Energy, and Imperial Oil all fell.

Toronto volume was 107.3 million shares as decliners beat advancers 576 to 436, with 190 unchanged.

The junior TSX Venture Exchange edged up 2.48 points at 1,034.96.

The Dow Jones industrial average fell 56.56 points to end the day at 8,688.89.

The Nasdaq composite index edged 0.72 of a point higher to 1,306.84. The S&P 500 backed off 4.86 points to 903.78.

Investors are waiting for Tuesday afternoon’s interest rate announcement from the U.S. Federal Reserve. Hopes for a rate cut have been largely dashed, with most observers now expecting the Fed to stand pat.

The Canadian dollar edged .01¢ higher to US63.53¢ in light trading.