Equities tumbling. Silver and gold gaining. Oil plummeting.
“It’s difficult to imagine an uglier morning,” writes JPMorgan’s trading desk.
There’s nothing hyperbolic about that statement.
North American markets sank at the open following their global peers as investors broadly retreated from global stocks amid fears of financial instability.
The U.S. benchmark S&P 500 stock index was 1.5 percent lower and the FTSEurofirst 300 index of top European shares was down 3.39 percent to the minimum in two . 5 years.
The Toronto Stock Exchange’s S&P/TSX composite index was down 104.50 points, or 0.86 per cent, at 12,081.22 shortly after outdoors. Later each morning, the S&P/TSX fell below 12,000, before nosing back above that much cla. The final time that it closed at that level was in July 2013.