News Formal

S&P/TSX composite down nearly 300 points, U.S. stocks rebound after plunge Monday

  • 📰 SooToday
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 85%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

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.

"I wouldn't overreact to this," said Craig Basinger, chief market strategist at Purpose Investments, in an interview Tuesday.

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.

That carry trade has been profitable for the last couple of years, but an interest rate hike in Japan combined with softer U.S. economic data raising the likelihood of an aggressive rate cut by the Federal Reserve has changed that.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 8. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인