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Stock Markets in Canada, U.S. Drop
Source: Amanda Stephenson The Canadian Press, August 26, 2022
Hardest-hit were growth stocks such as technology, which are more sensitive to interest rates.
North American stock markets were down sharply Friday as investors reacted negatively to a speech by Federal Reserve chair Jerome Powell in which he said he expects to keep interest rates high in his fight against inflation.
The S&P/TSX composite index was down 299.05 points at 19,873.29.
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