On Monday, the S&P 500 was down 2.2% while Toronto was down 1.0%.
Most stocks were down including:
WSP Global down 2.9%, Canadian Western Bank down 2.6%. Walmart down 3.8%, Costco down 3.0%, and Toll Brothers down 3.0%.
U.S. government treasury bond yields were down. The 10 year is at 2.73%. Earlier this year it appeared set to exceed 3.0%.
Canadian government bond yields also declined with the 5 year bond yield now trading under 2.0% versus highs of 2.14% earlier this year.
Dividend stocks fared better today, for example Fortis up 0.3%, RioCan up 0.5%.
If interest rates don’t rise much, which seems possible with the weaker growth in the Canadian economy then the yield stocks may turn out to be good investments.