The dramatic stock market losses in recent days were unexpected, but one Canadian portfolio manager says investors should refrain from interpreting them as a sign that the North American economy is tipping into recession.
The S&P/TSX composite index screen is seen at the TMX Market Centre in Toronto on Nov. 11, 2022.
The S&P/TSX composite index was down 292.92 points at 21,934.71, as the Toronto market reacted to the meltdown that occurred on Wall Street and other global markets on Monday while Canadians enjoyed a holiday long weekend. Investors have been worried that prolonged high interest rates could tip the U.S. economy into a recession before the Federal Reserve begins cutting rates.
"I think there's just been a pretty big stampede towards the exit for this carry trade that's been very popular of the last couple of years, and that is what exacerbated a lot of the market moves and weird nuances that were going on yesterday," Basinger said. The December gold contract was down US$16 at US$2,428.40 an ounce and the September copper contract was up three cents at US$4.03 a pound.Conservative House Leader Andrew Scheer says Canadians have a right to know how a man with links to a foreign terror group evaded Canada's screening process to immigrate to Canada and become a citizen.Staring out from a sepia-tinged photo is a smiling young woman with her blond hair swept up into a ponytail as she puts hay in a net in a horse stall.
Algerian boxer Imane Khelif will press her fight for an Olympic gold medal Tuesday night amid the intense scrutiny over misconceptions about her gender.Nissan showed Tuesday what it called a "cool paint" to keep people inside vehicles cooler, although the coating is six times thicker, making commercialization still a challenge.
On July 24, Environment Canada issued a tornado warning for the area around Lachute, Que., northwest of Montreal, urging people to take shelter. The warning was accurate: a tornado touched down outside Lachute about an hour after the alert. But three other twisters that day slipped past forecasters.Police on Montreal's South Shore are asking for the public's help to locate a teenage girl who has been missing for just under a month.
Residents of a 20-unit apartment complex on Burton Avenue in Greater Sudbury were evacuated early Monday after a fire ripped through multiple units.Police have successfully concluded a seven-year death investigation and have identified the remains of a man found in 2017 near the Sault.Four people – including two women from Sudbury and two young offenders from southern Ontario – have been charged following an armed home invasion last weekend.
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