At 09:53 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index slid 270.8 points, or 1.45 per cent, to 18,378.12.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.Article content Wall Street’s main indexes recorded hefty declines in the first hour of trading, poised to wipe out almost all of the previous session’s gains.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500’s dividend yield, which recently stood at about 1.8 per cent, according to Refinitiv Datastream.Article content
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fpinvesting Who could have forseen this coming? Who?