India, Sept. 28 -- Despite regaining a good portion of the ground it lost in early trades, the Canadian market remains firmly down in negative territory around mid-afternoon on Monday and looks headed for a weak close as stocks from the materials space continue to reel under severe selling pressure.
Elevated oil prices have rekindled concerns about inflation and further monetary tightening by central banks.
Oil prices climbed higher after U.S. President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz and signaled possible new military strikes after midterm elections.
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