We study the unique physical properties of topological nodal-loop semimetals protected by the coexistence of time-reversal and inversion symmetries with negligible spin-orbit coupling. We argue that strong correlation effects occur at the surface of such systems for relatively small Hubbard interaction U , due to the narrow bandwidth of the "drumhead" surface states. In the Hartree-Fock approximation, at small U we obtain a surface ferromagnetic phase through a continuous quantum phase transition characterized by the surface-mode divergence of the spin susceptibility, while the bulk states remain very robust against local interactions and remain non-ordered. At slightly increased interaction strength, the system quickly changes from a surface ferromagnetic phase to a surface charge-ordered phase through a first-order transition. When Rashba-type spin-orbit coupling is applied to the surface states, a canted ferromagnetic phase occurs at the surface for intermediate values of U . The quantum critical behavior of the surface ferromagnetic transition is nontrivial in the sense that the surface spin order parameter couple to Fermi-surface excitations from both surface and bulk states. This leads to unconventional Landau damping and consequently a naïve dynamical critical exponent z ≈ 1 when the Fermi level is close to the bulk nodal energy. We also show that, already without interactions, quantum oscillations arise due to bulk states, despite the absence of a Fermi surface when the chemical potential is tuned to the energy of the nodal loop. The bulk magnetic susceptibility diverges logarithmically whenever the nodal loop exactly overlaps with a quantized magnetic orbit in the bulk Brillouin zone. These correlation and transport phenomena are unique signatures of nodal loop states. 73.20.Mf, 75.30.Fv, 64.60.Ht The theoretical proposal and experimental verification of Weyl and Dirac semimetals [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18] has shown that topological electronic structure is not restricted to gapped systems [19][20][21][22][23], but also occurs in gapless systems such as nodal metals [24]. Recently, the interest in topological semimetals has been extended from systems with point nodes to those with a 3D nodal loop, "nodal-chain" [25], "nodal-arc" [26], and even "nodal surfaces" [27], in which there are bulk band touchings along isolated or connected 1D lines, or even at 2D surfaces in the 3D Brillouin zone (BZ) instead of at isolated points.A growing number of material systems have been theoretically proposed to realize nodal-loop semimetals (NLSMs) [28][29][30][31][32][33][34][35][36][37]. In particular, ZrSiS and PbTaSe 2 have been experimentally confirmed by angle-resolved photoemission spectroscopy (ARPES) measurements [31,32,34], and the bulk nodal loops in the ZrSiS-family compounds were further investigated by de Haas-van Alphen (dHvA) quantum oscillations [38,39] and magneto-transport measurements [40].In this paper, we discuss some fundamental physics of NLSMs which is dis...