Bay Street Win Streak Ends With A Thud -- Canadian Commentary

(RTTNews) - Canadian stocks fell Tuesday, snapping an 8-day win streak as the recent rally in commodities fizzled out.

The S&P/TSX Composite Index dropped 72.55 points, or 0.5 percent, to 13,311.05. The Canadian market remains in the green for the year, having rebounded nicely from January's swoon.

Energy stocks tumbled 3 percent today as April WTI crude oil dropped $1.40, or 3.7%, to settle at $36.50 a barrel on the New York Mercantile Exchange.

Goldman Sachs analysts warned that the rally driving crude oil prices up 35 percent from 13-year lows will prove unsustainable.

Mining shares, which have been especially volatile, dropped 7.3 percent to trim last week's huge gains.

Banking stocks outperformed today, as reflected in a modest rise in the Financial Index.