TSX Plunges to Near 2-Year Lows With All Sectors Negative as Global Growth Fears Gather Steam
The TSX has extended its losses for a third straight day, causing the exchange to struggle at near 2-year lows. All sectors are in the red today with miners and industrials registering the biggest losses -- 2.8% and 2.33% respectively.
Chinese manufacturing activity fell to its lowest in more than six years, according to a survey released on Wednesday. The preliminary Caixin/Markit index, which is based on a survey of factory purchasing managers, fell to 47.0 in September from 47.3 in August. Numbers below 50 indicate contraction.
A gauge of U.S. business investment plans fell slightly in August while the number of Americans filing new applications for jobless benefits barely rose last week. The Commerce Department said capital goods orders excluding military wares and aircraft dropped 0.2% last month. Meanwhile, Labor Department figures showed initial claims for state unemployment benefits rose by 3,000 to a seasonally adjusted 267,000 for the week ended Sept. 19.
Norway cut its interest rate to an all time low.
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