{"id":11341,"date":"2015-08-21T17:26:30","date_gmt":"2015-08-21T22:26:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11341"},"modified":"2015-08-21T17:26:30","modified_gmt":"2015-08-21T22:26:30","slug":"tsx-and-dow-plunge-again-on-fears-of-china-led-slowdown","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11341","title":{"rendered":"TSX and Dow plunge again on fears of China-led slowdown"},"content":{"rendered":"<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/tsx-and-dow-plunge-again-on-fears-of-china-led-slowdown-1.3198968\" target=\"_blank\">TSX and Dow plunge again on fears of China-led slowdown<\/a><\/h3>\n<\/div>\n<p class=\"story-deck\"><strong>Dow in correction territory as investors hit &#8216;sell&#8217; button<\/strong><\/p>\n<p>North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling.<\/p>\n<p>The main benchmark index of the Toronto Stock Exchange sank to its lowest point in almost 18 months. It ended a busy trading day\u00a0down 263\u00a0points, or 1.9\u00a0per cent, at\u00a013,473. That followed a drop of almost 300 points on Thursday.\u00a0Once again, the heavily weighted financial and energy groups led the declines.<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.cbc.ca\/news\/business\/oil-drops-below-40-a-barrel-for-1st-time-since-2009-1.3199401\">Oil drops below $40 US\u00a0a barrel for 1st time since 2009<\/a><\/strong><\/li>\n<\/ul>\n<p>&#8220;Everybody&#8217;s concerned about China,&#8221; said David Baskin, president of Baskin Wealth Management. &#8216;If there&#8217;s lower growth\u00a0or even a recession\u00a0in China, obviously that has a major impact because that&#8217;s, by most measures, the second biggest economy in the world.&#8221;<\/p>\n<p>Much of the\u00a0TSX&#8217;s\u00a0slide\u00a0stems from oil, which has now declined for eight straight weeks.\u00a0That&#8217;s the longest losing streak for oil since 1986, a time when OPEC drove the price down as low as $10 a barrel. Oil settled Friday at $40.45 US a barrel, down 87 cents. At one point, it traded as low as $39.86, the first time it had dipped below $40 since 2009.<\/p>\n<p>The Dow Jones industrial average plunged 531\u00a0points, or 3.1 per cent, to close at 16,460. With that drop, the Dow entered official correction territory, which refers to a drop of at least 10 per cent from its most recent high.<\/p>\n<p>&nbsp;<\/p>\n<p>The broader\u00a0S&amp;P 500 index suffered its biggest daily\u00a0percentage drop in nearly four years.<\/p>\n<h2>European concerns<\/h2>\n<p>European markets were also rattled by news that Greek PM Alexis Tsipras\u00a0would step down and hold new elections on Sept. 20.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TSX and Dow plunge again on fears of China-led slowdown Dow in correction territory as investors hit &#8216;sell&#8217; button North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling. The main benchmark index of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,3544,3000,130,216,500,501,1775,600,696,8361,2458],"class_list":["post-11341","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-cbc","tag-cbc-news","tag-china","tag-dow","tag-market-collapse","tag-market-crash","tag-oil-price-collapse","tag-opec","tag-sp","tag-toronto-stock-exchange","tag-tsx"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11341"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11341\/revisions"}],"predecessor-version":[{"id":11342,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11341\/revisions\/11342"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}