Canada's main stock index was down more than 100 points in late-morning trading, led lower by losses in the financial and utility sectors, while energy stocks were up as the price of oil climbed higher.
President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production, but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing.
Few hedge fund managers have exploited the retreat from quantitative easing as spectacularly as Said Haidar.
The latest bout of global financial volatility has heightened concerns about regulators’ continuing failure to resolve liquidity problems with US Treasuries -- the debt that serves as a benchmark for the world.
The global economy is at increasing risk of recession and it could lose $4 trillion in output through 2026, a “massive setback” roughly equivalent to the size of Germany’s economy, the International Monetary Fund’s top official said.
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