Stocks are tanking today as recession fears grip markets

“This is a recession trade,” said Neil Dutta, head of economics at Renaissance Macro Research LLC. “There is no other way of describing it.”

The Canadian dollar fell against its broadly stronger U.S. counterpart on Tuesday and was on track for its biggest decline in nearly four weeks, as investors fled riskier assets.Article contentJune 23 at 76.86. The last time the currency fell that much was on June 9. U.S. and Chinese officials held discussions after reports that Washington is close to rolling back some of the trade levies imposed by the former administration. But investors continue to fret over a potential US recession and stubborn inflation. While reducing tariffs on imported Chinese goods could impact consumer prices in the US, some suggest that it could do little to cool inflation.

“With the first half of the year moving into the rear-view mirror investors can’t help but wonder what lies ahead in a year that thus far has wrought heightened levels of uncertainty, disruption and dysfunction that has rattled asset class values across the spectrum of the good, the bad, and the ugly,” said John Stoltzfus, chief investment strategist at Oppenheimer & Co.Article content

U.S. markets reopened Tuesday after capping 11 declines in the past 13 weeks as a first-quarter contraction in the world’s largest economy boosted the prospects of a recession. At the same time, consumer prices are far from peaking with inflation surging to 8.6 per cent in May that left little room for the Federal Reserve to slow monetary tightening.

Apart from oil, gas + other commodities Canada's economy is moribund, a grossly indebted 3rd world joke decimated by 1/2 dozen yrs of Trudeau-progressive left grandstanding Were it not for Alberta's petro wealth the loonie would be $0.60 to the USD

Petro dollar

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Stocks are tanking today as recession fears grip markets\u0027This is a recession trade — There is no other way of describing it\u0027 The more money will be lost, the less travel is going to occur, and ultimately we are saving the planet and doing the right thing, isn't it ok? Poll: Should bankofcanada officials be criminally investigated for inducing a premeditated recession? Hell, we may well be fast-tracking to an actual depression at this rate of decline. What we have are out-of-control, spend happy governments around the world, hell-bent on money laundering and pissing away everything that belongs to the average working man and woman of the world.
Source: nationalpost - 🏆 10. / 80 Read more »

Energy, materials stocks lead TSX in broad-based move higher - BNN BloombergThe TSX Composite closed 167.50 points higher on Monday to 19,028.86 in a broad-based rally led by materials and energy.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stocks fall amid recession worries; Euro tumbles - BNN BloombergUS index futures and European equities fell as concern over the possibility of a recession outweighed optimism over US-China talks aimed at tariff reductions.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stocks are tanking today as recession fears grip markets\u0027This is a recession trade — There is no other way of describing it\u0027 The more money will be lost, the less travel is going to occur, and ultimately we are saving the planet and doing the right thing, isn't it ok? Poll: Should bankofcanada officials be criminally investigated for inducing a premeditated recession? Hell, we may well be fast-tracking to an actual depression at this rate of decline. What we have are out-of-control, spend happy governments around the world, hell-bent on money laundering and pissing away everything that belongs to the average working man and woman of the world.
Source: nationalpost - 🏆 10. / 80 Read more »