North American equities dropped sharply Monday amid heightened concerns of a developing trade war between China and the United States. But that wasn’t the only drag on the market. Shares in some of the biggest names in technology extended their three-week decline, sending the tech-heavy NASDAQ almost three per cent lower. All three major U.S. indices and the TSX Composite Index are negative for the year.

CANADIANS READY TO JUMP BACK INTO HOUSING MARKET: RBC POLL

Canadians don’t plan on letting new mortgage stress tests derail their plans to be homeowners. According to a new RBC poll, the number of Canadians planning to purchase a home in the next couple of years is at its highest level since 2010. Increased confidence in the economy and stronger employment prospects are driving the renewed optimism, particularly among millennials.

SPOTIFY IS SET TO GO PUBLIC

Spotify is ready to press the play button on its market debut. In contrast to the traditional initial public offering model, the company is using a direct-listing approach with no underwriters and an uncertain price range. As a result, trading may be more volatile than usual.

OTHER NOTABLE STORIES:

-Bloomberg is reporting the Trump administration is pushing for a preliminary NAFTA deal by next week

-Callidus Capital Corp.’s Q4 loss widened after it took a hit on a loan to a troubled energy firm

-Murdoch’s Fox offers to sell Sky News to Disney to appease regulator

NOTABLE RELEASES/EVENTS

-Nothing to note

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Today's note was writtien by Assignment Editor Alicia Harvey. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.