After a turbulent day on Wall Street, North American Markets withstood a turbulent plunge following the opening bell.
The Dow Jones fell over 1000 points shortly after opening, closing down 588, or 3.58 per cent, with the TSX down 420 points, or 3.12 per cent.
The markets were reacting to deep sell-offs on Asian and European markets. China’s main index fell 8.5 per cent, it’s biggest drop since the early days of the global financial crisis in 2008.
Oil and other commodities dove in value, including the Canadian dollar, which fell nearly half a U.S. cent at about 75.5 cents US – it’s lowest in 11 years.
While the dips could be worrisome, experts say that while investors are in for a tough stretch, it won’t be devastating in the long term.