OSFI chief Peter Routledge says he's confident Canada's financial system can weather a recession if one hitsNEW YORK — Wall Street’s ugly September got even worse Tuesday, as a sharp drop for stocks brought them back to where they were in June. The S&P 500 tumbled 1.5% for its fifth loss in the last six days. The Dow Jones Industrial Average dropped 388 points, or 1.1%, and the Nasdaq composite lost 1.6%. September has brought a loss of 5.
2% so far for the S&P 500, putting it on track to be the worst month of the year by far, as the realization sets in that the Federal Reserve will indeed keep inThe bearish bets come as the Federal Reserve indicated last week that interest rates will stay higher for longer. -- Canada’s banking regulator said he’s concerned about the prevalence of ultra-long mortgages and that his agency is working with lenders to stem the ubiquity of such loans.
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