hillsdown
Well-known member
It figures since we just got back in... :roll:
Monday, October 26, 2009
Presented by
Stock markets take sharp downward turn
Financial Post
Aaron Lynett/National Post
The Toronto Stock Exchange, along with other North American markets, took a sharp turn to the downside Monday as commodity prices fell, the U.S. dollar strengthened, and some U.S. banks received downgrades.
At 12.20 p.m. ET, the S&P/TSX composite index had fallen about 120.6 points to 11,261.5, with the three big sectors of energy, financials and materials leading the decline. All these areas were showing gains in early trading, when the TSX overall was up more than 1.2%.
On the commodities markets, crude oil was down US$2.15 to US$78.35 a barrel, while gold fell US$9.10 to US$1,047.30 an ounce.
The Canadian dollar was down 87 basis points to 94.2 cents US.
U.S. markets followed a similar up-and-down pattern. Much of the negative sentiment seemed linked to the downgrades of SunTrust Banks Inc. and Fifth Third Bancorp by analyst Dick Bove.
At midday, the Dow Jones industrial average had lost around 80 points, or 0.8%, to 9,890. The Nasdaq composite index fell about five points, or 0.3%, to 2,150.
European markets were down, though the most prominent Asian markets, in Japan and Hong Kong, were up.
Canwest News Service
© 2009 The National Post Company. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.
Monday, October 26, 2009
Presented by
Stock markets take sharp downward turn
Financial Post
Aaron Lynett/National Post
The Toronto Stock Exchange, along with other North American markets, took a sharp turn to the downside Monday as commodity prices fell, the U.S. dollar strengthened, and some U.S. banks received downgrades.
At 12.20 p.m. ET, the S&P/TSX composite index had fallen about 120.6 points to 11,261.5, with the three big sectors of energy, financials and materials leading the decline. All these areas were showing gains in early trading, when the TSX overall was up more than 1.2%.
On the commodities markets, crude oil was down US$2.15 to US$78.35 a barrel, while gold fell US$9.10 to US$1,047.30 an ounce.
The Canadian dollar was down 87 basis points to 94.2 cents US.
U.S. markets followed a similar up-and-down pattern. Much of the negative sentiment seemed linked to the downgrades of SunTrust Banks Inc. and Fifth Third Bancorp by analyst Dick Bove.
At midday, the Dow Jones industrial average had lost around 80 points, or 0.8%, to 9,890. The Nasdaq composite index fell about five points, or 0.3%, to 2,150.
European markets were down, though the most prominent Asian markets, in Japan and Hong Kong, were up.
Canwest News Service
© 2009 The National Post Company. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.
