North American stock markets plunge at start of trading, loonie falls

North American stock markets plunge at start of trading, loonie falls”

All sectors declined, with health care and energy especially weak.

Among real-estate interests, units of Dream Office REIT leaped $1.02, or 5%, to $21.25, while Canadian Apartment REIT hiked $2.11, or 4.5%, to $49.00.

American stock exchanges were hit even harder.

The energy sector led the Toronto market lower with a slide of nearly 10 per cent.

The major averages posted their worst day since March 16, when they all dropped more than 11%.

The Dow Jones Industrials plummeted 1,861.82 points, or 6.9%, to 25,128.17.

The S&P 500 shed 188.04 points, or 5.9%, to 3,002.10.

In point of fact, investors were not expecting any major policy changes, but the Fed's outlook on easing monetary policy further alongside a dovish tone had kept a lid on a Wall St. bull-run, though despite a projected USA economic contraction of 6.5 per cent this year alongside a 9.3 per cent unemployment rate by end-2020, Nasdaq managed to continue its bull market, while Tesla Inc.

More news: AstraZeneca agrees to make COVID-19 vaccine for Europe

US stocks opened noticeably higher on Friday as Wall Street was trying to rebound from prior session's steep sell-off. The Nasdaq increased 227.33 points, or 2.39 percent, to 9,720.06.

Stocks suffered their biggest one-day pullback in three months on Thursday as traders grew concerned about the number of coronavirus cases increasing in some states that are reopening up from lockdowns. Carnival Corp. and Norwegian Cruise Line shares fell at least 15.3% each.

Concerns about a second wave of coronavirus cases have risen as USA states push deeper into reopening.

Overall, more than two million coronavirus cases have been confirmed in the US along with over 100,000 deaths.

Energy shares rebound sharply on rising crude oil prices. Treasury prices and yields move in opposite directions.

The July crude contract fell eight cents to US$36.26 per barrel and the July natural gas contract was unchanged at US$1.74 per mmBTU.

Gold prices gained 40 cents to $1,740.20 ounce.

Like this



14 June 2020
Trudeau has 'serious questions' after watching video of Chief Adam's arrest
While only 5% of the population is indigenous, indigenous people make up about a third of the prison population . After he leaves the vehicle a final time, he is held by one officer while a second tackles him to the ground.

14 June 2020
Xbox Series X vs. PlayStation 5
As a pro-consumer move, the Xbox Series X backward compatibility is a clear step above PlayStation 5 backward compatibility. The machine will support advanced visual effects such as real-time ray tracing and will have a solid state drive ( SSD ).

14 June 2020
La Liga return after lockdown, Sevilla beat Betis in first match
As part of the deal, players have to arrive wearing masks and gloves and their temperatures must be taken before entering the stadium.

14 June 2020
Following economic crisis: Syria's Assad sacks PM Khamis
But testing is lacking and authorities have reported only 152 cases and six deaths in government-controlled parts of the country. A pro-Assad and anti-US protest takes place in Damascus on Friday in response to days of anti-Assad demonstrations in Sweida.

14 June 2020
NY Gov. Cuomo Links Municipal Funding to Police Reforms to Fight Racism
The state will not second guess the local law, Cuomo said, adding that state laws stay in effect. That was expected, and so was a ban on chokeholds .

14 June 2020
23andMe study suggests blood type affects coronavirus susceptibility
Researchers identified a variant in the ABO gene, responsible for difference blood types, that was associated with a lower risk. Meanwhile, both O-negative and O-positive blood types were less likely to fall ill with coronavirus than other blood groups.

14 June 2020
Bayern Munich one win away from Bundesliga title
Eintracht Frankfurt ended a two-match winless run with a 4-1 victory at Hertha Berlin , who finished the game with 10-man. Union Berlin moved a step closer to securing survival in their first season in Bundesliga with a 2-1 win at Cologne .

14 June 2020
China sentences Australian man Cam Gillespie to DEATH for drug smuggling
Treason, separatism, spying, arson, murder, rape, robbery, drug and human trafficking all carry the death penalty in China. Daily Mail Australia has approached the Department of Foreign Affairs and Trade for comment.

14 June 2020
Movement to defund Calgary police focuses on capping budget, says activist
Seventy-five percent of Americans want to support "allowing victims of police misconduct to sue police departments for damages". Most Americans don't agree with the "defund the police" movement , according to recent polls .

13 June 2020
Chris Lilley's comedy shows pulled from Netflix over blackface characters
In the US, HBO Max has removed 1939's Gone With The Wind from its service, though it is said to be returning with a disclaimer. Despite criticism over the character, according to the SMH Lilley's producer, Laura Waters, stated this was not blackface.