Canada's main stock index fell more than one per cent Tuesday as it played catch-up while U.S. stock markets regained some of the ground lost in a big plunge Monday when the Toronto market was closed.
Markets in Asia also stabilized Tuesday, with Japan’s market recovering much of its losses from the day before after suffering its worst day since 1987. “If you look at the top performers, year to date, there's been such a concentration in the large mega cap stocks that I think we've come to a point now where there is a little bit of a rotation of institutional and retail money going a little bit out of that sector, taking some profits and shifting to more diversified,” she said.
"I think there's just been a pretty big stampede towards the exit for this carry trade ... and that is what exacerbated a lot of the market moves and weird nuances that were going on yesterday," Basinger said.
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