Friday, the S&P 500 stock index fell below its mid-June low of 3,666, wiping out the summer rebound. Fuelled by fears of rising inflation and global recession, the rout swept up bonds, energy, metals — pretty much everything except the U.S. dollar.
“Based on our data, we see that one in four Canadians are looking to minimize their market losses by cashing out in 2022. This could turn into a really big problem,” Romana King, senior finance editor with Finder, said in the press release. Confidence in stocks varies by region, the survey found, with Ontarians the least confident and British Columbians the most. One in three B.C. investors are somewhat or very confident they will meet or exceed their returns in 2022, the highest in Canada. Albertan investors are the most likely to stay the course, with 49 per cent using a buy-and-hold or long-term strategy, even though 45 per cent are unsure about the market.Pessimism is far from just a Canadian phenomenon.
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Posthaste: Millions of Canadians are losing confidence in the stock market and plan to cash out\u0027This could turn into a really big problem\u0027
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