MONDAY MARKET MELTDOWN

Aug 24, 2015

By Michael Kramer

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It wasn’t only at the CNE where people were riding the roller-coaster today.

It was a rocky ride for investors around the world.

Here in North America, markets greeted the trading week with a massive selloff.

There was some blessed relief – as indexes recovered for much of the day – but they slumped again before the close.

The volatility was in large part due to the continuing turbulence on China’s main market,   the Shanghai composite index – which saw its biggest one-day loss since 2007 – a fall of 8.5 percent.

Back here at home the loonie closed at 75.40 cents U.S. – down 54-100ths from Friday’s close.

In Toronto, the T-S-X composite index gave back 421 points -closing at 13,052.

Stateside, the Dow Jones industrial average fell 588 points – and the Nasdaq dropped 179.

Oil lost just over $2.00 – arriving at $38.24 a barrel at the end of the day.

Gold is at $1,153.60 an ounce. That’s down $6.00

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