Wall Street suffered its biggest decline since 2011 yesterday as the bull run stumbled on inflation fears and the ASX and Nikkei followed the downward trend today.
Gold stocks were barely a bright spot in Australian trade however, with producer Resolute Mining (AU:RSG) closing up just 0.19% to give it the biggest gain among S&P/ASX200 listed equities.
On the TSX, Northern Dynasty Minerals (CN:NDM) was one of the mining stocks to post a substantial gain yesterday, up just over 23% to C$1.28.
The company's long-running quest to permit the proposed Pebble copper-gold-molybdenum project in Alaska took another step forward on Monday, with the US Army Corps of Engineers selecting a third-party contractor to support completing an environmental impact statement.
Toronto's metals and mining sector closed almost 1.2% lower overall.