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* TSX ends down 196.33 points, or 0.9%, at 21,352.51
* Financials and energy both decline 1.3%
* Health care ends 4% lower
TORONTO, Feb 14 (Reuters) - Canada's main stock index fell on Monday as investors worried that a Russian invasion of Ukraine could worsen the inflation outlook and Ottawa appeared set to activate emergency powers in an effort to end protests that have shut some border crossings .
The Toronto Stock Exchange's S&P/TSX composite index ended down 196.33 points, or 0.9%, at 21,352.51.
Wall Street also ended lower as U.S. plans to close its Kyiv embassy in Ukraine sent simmering geopolitical tensions to a boil.
"If there were to be an invasion and all of a sudden you saw both natural gas and oil prices begin to spike, you could see some pretty severe inflation in the not too distant future," said Michael Sprung, president at Sprung Investment Management.
U.S. crude oil futures notched a 7-year high, settling up 2.5% at $95.46 a barrel. {nL1N2UP0GI]
Investors have worried that soaring inflation could lead to a faster pace of interest rate hikes by the Bank of Canada and the Federal Reserve. Canada's inflation report for January is due on Wednesday.
The heavily-weighted financials group and energy both fell 1.3%, while the health care sector, which includes cannabis producers, ended down 4%.
Canadian Prime Minister Justin Trudeau plans to use the 1988 Emergencies Act, which allows the federal government to override the provinces and authorize special temporary measures to ensure security during national emergencies, sources said.
Investors awaited earnings' reports from major companies this week including Shopify, Restaurant Brands, Canadian Tire, Air Canada and several big miners. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Alistair Bell)
