MIDDAY: Turkish Economic Woes Batter North American Markets
North American markets are down as investors respond to the economic crisis in Turkey.
The country’s currency plunged more than 10 per cent this morning, causing havoc in world markets, a trend continuing here.
The TSX is down 86 points to 16,330, while the Dow Jones has lost 189 points so far, sitting at 25,320.
Meanwhile good jobs numbers in Canada could lead to yet another boost in interest rates from the Bank of Canada next month.
Stats Canada says 82,000 part time jobs were created last month, somewhat offsetting a loss of 28,000 full-time positions and beating analysts’ expectations.
Oil is up $0.60 to $67.41 U.S. per barrel, gold is up $2.30 to $1,222.20 an ounce and the loonie is down a third of a cent to $0.7635 cents U.S.