Canada's main stock index closed down more than 250 points in broad losses led by energy and technology over interest rate concerns and a drop in crude prices, while U.S. stock markets were also in the red.

The S&P/TSX Composite Index closed down 252.09 points, or 1.25 per cent, at 1,990.17.

In New York, the Dow Jones Industrial Average was down 350.76 points at 33,596.43. The S&P 500 Index was down 57.58 points at 3,941.26, while the Nasdaq Composite was down 225.05 points at 11,014.89.

The Canadian dollar traded for 73.27 compared with 73.90 cents U.S. on Monday.

The January crude contract was down US$2.68 at US$74.25 per barrel and the January natural gas contract was down 11 cents at US$5.47 per mmBTU.

The February gold contract ended up US$1.10 at US$1,782.40 an ounce and the March copper contract was up 2.3 cents at US$3.82 a pound.