It was another day of wildly seesawing markets on Monday, with the TSX index dropping more than 1,000 points in morning trading to finish down 572.92 on concerns over the $700-billion U.S. bailout passed on Friday.

The major U.S. indices, as well, were down sharply on the day, with the Dow Jones Industrial Average slipping 369.88 points, the Nasdaq dropping 84.43 and the New York Stock Exchange Composite Index falling 334.03. The Standard & Poor 500 index was also down, losing 42.34 points on the day.

And while falling commodities prices – oil declined another US$4.80 to $89.08 per barrel – were behind much of the TSX's dip, local stocks also took a drubbing, led by Calian Technologies Ltd. (TSX:CTY), down 7.41 per cent to $10 per share; March Networks Corp. (TSX:MN), down 13.31 per cent to close at $2.67 per share; Enablence Technologies Inc. (TSX-V:ENA), down 15.79 per cent to 32 cents per share; and Orezone Resources Inc. (TSX:OZN), down 26.09 per cent to 25 cents per share.

EMS Technologies Inc. (NASDAQ:ELMG), was one of the lone local bright spots on the day, closing up 1.96 per cent after local subsidiary EMS Satcom unveiled a new high-gain antenna, its AMT-700. Entrust Inc. (NASDAQ:ENTU), was also up 1.63 per cent, to $1.87 per share.

Ottawa's C-COM Satellite Systems Inc. (TSX-V:CMI), was also up, rising more than seven per cent to end the day at nearly 28 cents per share.