Posthaste: Millions of Canadians are losing confidence in the stock market and plan to cash out

Financial Post Top Stories

But if U.S. stocks had it bad, the S&P/TSX compsoite had it worse. Canada’s main stock index posted its biggest drop in more than three months Friday as oil prices fell. For the week, the index lost 4.7 per cent and has fallen about 16 per cent from its record closing high in March.“These are uncharted waters,” Sam Stovall, chief investment strategist at CFRA Research, told Reuters. “The market right now is going through a crisis of confidence.

Almost half of those polled about their investment plans, 41 per cent, are sticking with the market, planning to buy and hold for the long term. But 74 per cent are not convinced that they will make a profit on their investments this year.Article content Pessimism is far from just a Canadian phenomenon. According to the strategists at BofA Global Research, investor sentiment is “unquestionably” the worst since the global financial crisis, with its bull and bear indicator returning to its maximum level of bearishness.

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If you're selling stocks because the Fed is hiking interest rates, you may be suffering from 'inflation illusion'Forget everything you think you know about the relationship between interest rates and the stock market. MktwHulbert High interest rates are NOT THE PROBLEM. The VELOCITY of changes ARE the problem. When you are raising rates faster than you allow those rates to circulate through the economy...THAT IS THE PROBLEM. Does ANYONE that writes for financial news agencies understand economics? MktwHulbert No, but I have less money after paying the mortgage to buy them 🤔🤷‍♂️😂😂 MktwHulbert Yeah, okay. Just like Inflation is good, 🤡
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