Mid-day: TSX, Dow Jones sell-offs continue
No big surprise in Toronto or New York City today as the sell-off continues.
Following world market trends from this morning the TSX and Dow Jones are both down by triple digits. This comes a day after big losses by both markets.
Canada’s main stock market is down 136 points, sitting at 15,380, and the Dow has dropped 227 points, sitting at 25,371.
Investors are wary of the IMF’s warning earlier this week that the global economy is set to slow down, China and the United States’ trade war, and the possibility of smaller profit margins and higher interest rates.
Inflation numbers for the U.S. released today came in below estimates, rising 2.2 per cent in September compared to the 2.3 per cent that was expected. If that number was higher than expected it could fuel further fears of the Federal Reserve jacking up interest rates, leading to more selling.
At press time oil is down $1.98 to $71.19 U.S. per barrel, gold is up $29 to $1,222.40 an ounce, and the loonie is close to even at 76.50 cents U.S.