Uncertainty Over Italy Causes Red Ink On The Markets
A turbulent day on the markets with big selloffs and lots of red ink.
There is deep uncertainty and concern about a political crisis and new elections in Italy as the power struggle continues between the Establishment and the Euroskeptic populist parties. The uncertainty of whether the Euroskeptic parties would walk from the Euro and the European Union has rattled the markets with the Dow Jones down to its lowest in a month halfway through the day, it did surge back late in the day but still finishes down 390 points to 24,362.
The TSX is finishing down for the sixth straight session, off 93 points to 15,922.
Oil is down again just over a dollar at $66.80 a barrel, gold is also down to $1,300.00 an ounce and the Canadian dollar is down 13/100 of a cent to $0.76834 U.S.