Canada’s main stock index fell more than one per cent Tuesday as it played catch-up while U.S. stock markets regained some of the ground lost in a big plunge Monday when the Toronto market was closed.
Wall Street suffered its worst day in nearly two years Monday after several weaker-than-expected economic reports raised worries that the U.S. Federal Reserve had pressed the brakes too hard for too long on the U.S. economy through high interest rates in order to beat inflation. That day, the S&P 500 lost three per cent, the Dow 2.6 per cent and the Nasdaq 3.4 per cent.
“Yesterday, the market had a bit of a temper tantrum,” said Ilana Schonwetter, investment advisor and portfolio manager at Blueshore Financial.
On Tuesday, the S&P/TSX composite index closed down 248.27 points at…
