The world is watching as the Fed prepares to meet and, potentially, announce an increase in US interest rates. With many respected organizations expressing concern that a rate increase could affect global prosperity at a time when many economies are already flagging, the Fed’s decision will have far reaching consequences.
Most indexes have reflected caution of investors with Asia seeing a sell-off earlier today; most European markets followed with Germany bucking the trend.
Further weak data from China and the greenback’s strength continued to weigh on resources stocks pulling the TSX lower.
The S&P/TSX Composite Index closed down 108.1 (0.80 per cent)
The Dow Jones closed down 62.13 (0.38 per cent)
Oil is trending lower (Brent $46.51, WTI $44.08 at 4.10pm)
Gold is trending higher (1108.0 at 4.10pm)
The loonie is valued at U$0.7539