Market meltdown
Posted Aug 11, 2010 05:21:32 PM.
This article is more than 5 years old.
Concerns about the health of the U-S economy dragged the TSX down by over 250 points.
The DOW was in the red by 265 points in the Wednesday trading session.
The Canadian dollar closed under 96 cents U-S.
Stocks sold off after the U.S. Federal Reserve said Tuesday that “the pace of recovery in output and employment has slowed in recent months.”
Adding to the unease was data showing that Chinese economic growth slowed from 11.9 per cent in the first quarter to 10.3 per cent in the second quarter.
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