‘Green shoots’ trampled as investors flee
June 24th, 2009
A gloomy global economic outlook from the World Bank spooked investors yesterday and pushed Canada’s resource-laden S&P/TSX composite index below the 10,000 mark for the first time since May 11.
The index fell 453.77 points to 9,834.18 – its worst one-day point loss since early December.
The TSX was punished in particular by falling oil and mining stocks, two of the big drivers of this spring’s market surge no fax cash advances.
Now investors fear they are looking at a "bear market rally" that has fizzled out. They had been encouraged by so-called "green shoots" signalling economic recovery, such as slowing job losses. But few economists now expect a sudden snap-back. More in Business.
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