By mid morning, the Toronto Stock Exchange’s S&P/TSX composite index was down 404 points, while the Dow Jones Industrial Average was down more than 90 points, the S&P 500 was off almost 40 points and the Nasdaq was down 171 points.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
With recent data on labour market and inflation suggesting more big rate hikes by the U.S. Federal Reserve, Wall Street’s main indexes have been on a loss-making streak in the past few sessions on fears of the economy slipping into a recession. Money markets are now pricing in a 92 per cent chance of another 75-basis-point hike at the Fed’s meeting in November.Article content
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