Canadian stocks fall most in 2 years, loonie dips on recession fear

The Toronto Stock Exchange’s S&P/TSX composite index ended down 3.1% at 19,004.06, its biggest drop since June 2020 and its lowest level since April 2021.

U.S. stock indexes also tumbled on Thursday as the Swiss National Bank and the Bank of England lifted interest rates following the Federal Reserve’s 75-basis-point hike on Wednesday, with central banks aiming to slow domestic activity in the face of soaring price pressures. “People have been talking about recession but it’s not in market expectation yet if you look at the forward earnings growth. So that’s the next shoe to drop.”

U.S. crude oil futures settled nearly 2% higher at $117.58 a barrel after the United States announced new sanctions on Iran.tap here to see other videos from our teamTechnology, which tends to be particularly sensitive to higher interest rates, fell 3.8% and heavily-weighted financials were 2.9% lower.

Fear! fall! Dips! Oh my… another example of stellar yeller tabloid antics from the Vancouver Black Hole.

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