Today, a huge decline was seen at the Toronto Stock Exchange. The Toronto main stock index was the lowest it has been in six months. This is due to a number of factors including:
- The debt crisis in Greece. For more information on how Europe plans to handle Greece’s failing economy, read the following articles:
- Austerity Measures Approved in Greece
- ECB’s paradox on Greece
- Greece default not expected in the immediate future
- More on Greece: S&P downgrades, further bailout or restructure?
- A slowing global economy. Recent reports have shown slow-downs in sectors like housing and trade deficit. For more information, read the following articles:
- Declining Home Equity in the US
- Canadian Mergers and Acquisitions Market Reports Declines
- Canada’s Trade Deficit
The market was affected in the following ways:
- Energy shares fell 1.3 percent.
- Materials (like mining and metals) fell by 1.5 percent.
- The TSX composite index is down to 182.46 points.
- The Dow Jones is down by 1.2 percent.
- All 10 sectors were down.
- US stocks also dropped in value.
- The Nasdaq Composite Index was down by 30.01 points.
For more details on the declining state of the stock market, read this Financial Post article.
If you are concerned your business will be affected by this economic decline, contact the Winflow Financial Group. Our consultants can assist in planning for economic slow times and find new sources of funding. We can be reached at 1.800.956.6897.
At Winflow Financial Group, our consultants help entrepreneurs with our experience. Tell us about your business or investment today and find out how we can help your business save money and grow.