American selloff worst since December
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The early rally of 2023 that was driven by decelerating inflation is now encountering choppier waters, said Kevin Burkett, portfolio manager at Victoria-based Burkett Asset Management. Though Canadian CPI data released Tuesday revealed the inflation rate was actually lower than expected — in theory good news — markets seem to be grappling with questions about what that means for the economy, said Burkett.Article contentBurkett noted that riskier assets, in particular tech, were dragging markets down today, which is likely why U.S. markets were down by larger percentages than the TSX, which isn’t as heavily weighted towards tech.“One of those paths looks pretty nasty.
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