SHARON SINGLETON
September is the cruelest month for stock market investors. No one can explain why, but historically New York’s S&P 500 has dropped an average of 1.1% every September, making it by far the worst month of the year, according to the Stock Traders’ Almanac. It has also been the month that has set the stage for some of the biggest crashes. The 1929 collapse started in September, and more recently, there was the bankruptcy of Lehman Brothers in September 2008, which triggered the latest financial crisis. After a lousy August, investors have good reason to be nervous. “We are going to look at continued volatility, there’s no doubt about that,” said Larry Moser, regional sales manager at BMO.
There is no doubt the issues facing the global economy are serious. Although Canada’s economy is still solid, its growth would likely be affected if the U.S. slips back into recession. The Bank of Canada warned on Wednesday that the global economic outlook has deteriorated in recent weeks. Canada’s growth stalled in the second quarter, though the bank said it expects the economy to regain momentum in the third.
There is no doubt the issues facing the global economy are serious. Although Canada’s economy is still solid, its growth would likely be affected if the U.S. slips back into recession. The Bank of Canada warned on Wednesday that the global economic outlook has deteriorated in recent weeks. Canada’s growth stalled in the second quarter, though the bank said it expects the economy to regain momentum in the third.
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