By Commodity News Service Canada
WINNIPEG, Feb. 6, 2018 – Stock markets around the work continue to plummet in the face of rising interest rates. The fall began after the U.S. nonfarm payrolls report came out on Friday. The Dow Jones industrial average lost 500 points at today’s opening before staging a slight rally. Yesterday, the Dow fell 1,175.21 points or 4.6 per cent. The German Dax dipped 1.9 percent, while Japan’s Nikkei index fell 4.7 percent and the Shanghai composite declined 3.4 percent.
In Canada, the S&P/TSX composite index also started the morning lower. Monday’s selloff dragged the index to a five-month low. In all the TSX lost 271 points, or 1.7 per cent, on Monday with all 12 of its sectors finishing with losses.
Housing prices in the Toronto region fell 4.1 per cent in January. The average price is now pegged at C$736,783. However, prices for condominiums rose 14.6 per cent to C$507,492.