Results tagged “stockmarket”

After rising 262 points (3.1%) yesterday on the Federal Reserve's decision to slash interest rates, the TSX has been shut down all morning and afternoon. What was supposed to be a small glitch has turned into a major blackout and no one seems to know why. Luc Bertrand, Deputy CEO of TMX Group (which runs the TSX) appeared on BNN at 1 p.m., three and a half hours after the market was supposed to open, and he deflected any direct questions about the cause. Sadly, it appeared as though even he may not know the root of the problem. With markets expected to be shut all day, it looks like Canadians are going to have to get used to the forced closure of yet another national institution.

The stock market roller coaster is continuing unabated, last week's $700 billion bailout notwithstanding. Mid-morning, the TSX was down more than 1,100 points from Friday's close, or just over 10%. It's rebounding slightly at the moment—the loss had been cut to about 650 points as of 1 p.m. today—but with several hours of trading ahead, and the credit concerns that have been plaguing the U.S. now spreading to the European markets, stability is still nowhere in sight. While Canadian banks are not closing or restructuring as their American counterparts have been, our market is taking a severe hit in part because of dropping oil prices and concerns that the American crunch will depress our trading with that country. Combined with forecasts of a Canadian recession by several top economists this morning, look for this to dominate the news cycle and campaign trail in the days ahead.

The Star reports that TTC operators have a rate of post-traumatic stress disorder four times higher than Toronto police officers. The syndrome is often a result of witnessing, or becoming the victim of, physical violence, and is now the second leading cause of missed work days at the TTC. Arming operators a la Mad Max probably isn't the right solution, but hoping that the assholes who assault drivers will magically disappear may not be realistic. Anyone?

Today marks the twentieth anniversary of Black Monday, the biggest one-day stock market plunge in history. On October 19, 1987, Bay Street was shocked to see all the key market indices plummet. The TSE 300 lost over 400 points as, in a frenzy of panicked selling, a record 77 million shares were desperately traded on the floor of the Toronto Stock Exchange. By day's end, hundreds of millions of dollars evaporated from share values, including $37 billion in Toronto alone.

Stock market volatility continued yesterday, with the TSX index adding a 194 point drop to a loss of about 10% in the last month. A spokesman for the Global Society of Plutocrats said that in spite of the burgeoning financial crisis, everything remains fine for the super-rich.

Spring appears to have, er, sprung, at least temporarily, in most of the Ist-A-Verse, so naturally, we're all feeling pretty good. (Yes, we know that spring doesn't start till later this month. Just let us enjoy our weather!) And that makes us that much more eager to share all of the nifty things we're up to...

Following a major sell-off in the Shanghai stock market yesterday, other markets around the world fell dramatically, including the Toronto Stock Exchange. It looks like today is more of the same, as the index is already down 61.85 points, or 0.49%. However, given today's partial recovery of the Dow after its 400+ point fall yesterday, it is possible the S&P/TSX could bounce back by closing time.

Everyone writes about the city's revelation that thieves are using two-by-fours to bust up the city's beloved lollipop bike posts. The Star's Betsy Powell, who broke the story last week, has her piece here. The Post marvels at how city staffers who are usually slow to act in August managed to react quickly to the problem. The Sun reports that around eight bikes have been stolen from busted stands in one week alone. Finally you can read our take on things here. We suggest a stakeout. Torontoist will bring the coffee.