TORONTO — Canada's main stock index fell more than 200 points on Friday, while U.S. markets also fell, after the latest reports on the labour market showed continued softening on both sides of the border.
TORONTO — Canada's main stock index fell more than 200 points on Friday, while U.S. markets also fell, after the latest reports on the labour market showed continued softening on both sides of the border.
The highly anticipated jobs report in the U.S. found that employers hired fewer workers in August than expected for the second straight month. Whether the cut will be 25 basis points or 50 basis points is “pretty much a toss-up,” said Forrest, but what’s more important is how much the Fed will cut over a longer period of time.
With tech leading the way lower Friday, Forrest said there continues to be extra volatility in that sector as companies involved with artificial intelligence have attracted a lot of investor interest but also more recently concerns about the pace of capital expenditure.In Canada, it was also jobs day — the latest report showed the unemployment rate climbed in August while the economy added 22,000 jobs.
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