Rout In Canadian Stocks Will Continue Monday -- Canadian Commentary

(RTTNews) - It's going to be a brutal open for Canadian stocks on Monday, following one of the worst weeks in recent memory.

Commodity prices have plunged, putting Canada's resource-heavy market in particularly bad shape.

Chinese stocks collapsed overnight. Dwindling demand from China has sent energy and metals prices sharply lower.

U.S. crude oil dropped $1.33 to $39.12 a barrel, its lowest in six years.

Prices have plunged 60 percent from a year ago, as OPEC refuses to cut supplies despite weak demand.

Banking stocks are in focus this week as Canada's big six lenders report earnings. The Financial Index has fallen to its lowest in 18 months.