Report prepared by Robert Marck, CFA, MBA, CPA, CMA
Posted with permission TD Wealth
North American equity markets plunged at the open by more than 2% as the selloff on Bay Street and Wall Street continued from last week. Concerns over China’s growth slowing and a potential global slowdown continued to weigh on markets. Earlier in the day, the Asian markets sold-off with commodities and emerging market currencies plunging. The Shangai Composite Index recorded its biggest loss since 2007 with the Hang Seng Index declining 5.2% today. Chinese shares have wiped out this year’s gains, which at one point were over 50% for the year. That being said, after a difficult market open, stocks are finding buyers and Canadian and U.S. indices are beginning to recover.
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