Recession incoming! (part 2)
https://www.msn.com/en-ca/money/topstor ... li=AAggNb9
The Dow just dropped over 800 points today also, the third biggest point drop ever:Canada's main stock index had its worst day in more than three years on Wednesday as North American markets plummeted on a broad sell off by nervous investors.
All asset classes except gold and safe haven currencies were firmly lower as risk aversion was the underlying tone on the day, says Candice Bangsund, portfolio manager for Fiera Capital.
"I think equity markets are getting a little spooked that the rise in interest rates is going to impact valuations and erode, potentially, corporate profits and this is obviously coming at a time when equity valuations have been so lofty," she said in an interview.
The Toronto Stock Exchange was lower for a fourth-straight day.
The S&P/TSX composite index closed down 336.65 points to 15,517.40, marking the biggest daily decline since September 2015. The decrease wiped out all gains since the end of April.
https://www.cnn.com/2018/10/10/investin ... index.html