Nightmare on Bay Street as markets continue to plunge

Nightmare on Bay Street as markets continue to plunge

Nightmare on Bay Street as markets continue to plunge It’s a couple of months to Halloween but things are scary on the markets right now.

Monday’s session has seen another plunge in world equity markets; oil well below $40; the loonie hitting an eleven-year low; even gold has lost some of its lustre.

Analysts and investors are looking to China to come up with something that will boost the world’s second largest economy; the source of most of the global fear currently.

Asian markets closed lower as Shanghai slumped almost 9 per cent while European markets dropped around 5 per cent.
 
The S&P/TSX Composite Index closed down 420.9 (3.12 per cent)
The Dow Jones closed down 586.1 (3.56 per cent)
Oil is trending lower (Brent $42.60, WTI $38.26 at 4.15pm)
Gold is trending lower (1153.60 at 4.15pm)
The loonie is valued at U$0.7540