Monday has started with an interesting stake in the economy. As I read through morning reports there are more and more big box stores closing: Bed Bath & Beyond is the newest victim with 200 store closures. Our economy is struggling and in turn our markets are struggling. BNN Bloomberg posted a great breakdown of what is happening today. Click on the link for the full article.
“Stocks slumped to a two-month low amid concern over tighter coronavirus restrictions and as a report detailed suspicious transactions at global banks. Treasuries and the dollar climbed.
The S&P 500 fell as much as 2.7 per cent Monday — approaching the threshold that many investors consider to be a market correction — before paring its drop. Commodity, industrial and financial shares led the gauge to a fourth straight decline, its longest since February, as JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. sank at least 3 per cent. Carnival Corp. and American Airlines Group Inc. paced losses in travel companies on worries that an increase in virus cases around the world could prompt further lockdown measure… https://www.bnnbloomberg.ca/stocks-slump-to-two-month-low-as-probe-sinks-banks-1.1496810“