The crash came despite the U.S. Federal Reserve's weekend to cut its key interest rate in a bid to limit the economic damage as businesses closed their doors and people stopped travelling in an effort to slow the spread of the virus.
In later morning trading, the Toronto S&P/TSX composite index was down 1,404.58 points at 12,311.75 -- up from the day's low.In New York, the Dow Jones industrial average was down 2,298.31 points at 20,887.31. The S&P 500 index was down 261.73 points at 2,449.29, while the Nasdaq composite was down 737.96 points at 7,136.92.The drop in North American stock markets came after markets in Asia and Europe also fell.
The Bank of Canada, which also moved on the weekend to help ensure global U.S. dollar liquidity, cut its key interest rate by half a percentage point on Friday to 0.75 per cent and said it was ready to make further changes if required to support economic growth and keep inflation on target.
CTVToronto Great time to buy. Then sell high when it recovers!
Welcome to the Pandemic Global Recession brought to you by the Chinese Warfare department of stupid.
REPORT on how Canadian Gov’t is mishandling COVID19!!! JustinTrudeau insane policy of open borders during a pandemic? Research & will find CPHO_Canada is twisting the facts to justify her distorted belief that border controls do not work. INVESTIGATE. REPORT.
It would be great if the money people would quit panicking and tanking the economy.
You notice how the media is spamming the fallen stock market today but on the weekend they barely talked about the 2000 point gain from Friday? Pushing fears to topple the economy is their 1 priority. Media loves this. All about $. Clicks. Power.
CTVToronto ELI5, is it a good time to buy stocks now?
Looks like my retirement is postponed again.
Canadian economy was bad prior to COVID19 , I hate to ask, but how much worse can it get? CoronavirusOutbreak StockMarket
Shocker
what a surprise