Fund Library News Wire
| Friday, November 23, 2018
By Mike Keerma
Spurred by concerns over oversupply, commodity traders sold
in a big way this past week, as the price of WTI crude fell 11.2% on the
week. That in turn contributed to selling pressure on North American stock
markets, as market volatility was heightened by thinner trading volumes
while traders took advantage of the market shutdown on the U.S.
Thanksgiving holiday and half day on Friday. The
S&P 500 Composite Index
lost 3.8% on the week, and is now in correction, defined as at least a 10%
drop from its recent high of 2,940. Similarly, the
Nasdaq Composite Index
continues in correction, losing 4.3% on the week, as the large-cap
technology issues continued to slide. Toronto’s
S&P/TSX Composite Index
posted a 1.0% loss on the week, also bowing to selling pressure in the
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