Canada in recession, oil slumps

Canada in recession, oil slumps

Canada in recession, oil slumps Having rebounded at the end of last week and managed a flat end to trading Monday, Tuesday brought more of the gloom last seen a week ago.

Weak manufacturing data from China was followed by disappointing figures for Canada’s manufacturing sector and the wider economy.

Asian and European markets also closed with losses Tuesday along with near-3 per cent decline for the three main Wall Street indexes.
 
The S&P/TSX Composite Index closed down 377.2 (2.72 per cent)
The Dow Jones closed down 469.7 (2.84 per cent)
Oil is trending lower and down more than 8 per cent (Brent $49.35, WTI $45.22 at 4.25pm)
Gold is trending higher (1139.80 at 4.25pm)
The loonie is valued at U$0.7562