So, after falling 666 points on Friday, the DOW fell another 1175 today.
The S&P 500 was down 4.1%, the DOW was down 4.6% and Toronto was down 1.7%.
Many commentators are aghast. But they should really get a grip. The U.S. markets were roaring higher for months. Markets had risen almost uninterrupted for 15 months with a particular surge in the last couple of months. This only wipes out a about 5 weeks of gains.
It was interesting to see that Boston Pizza managed a gain of 1.3% today although it is still down about 10% from recent highs. TFI International, up 0.2% and CRH Medical, up 0.3% were the only other two stocks on our list that managed a gain.
Liquor Stores N.A. is no longer on our list but was up 2.1% after raising over $100 million by issuing an additional 25% of its shares to make Aurora Cannabis its 20% owner and with plans to open some pot stores. I must admit to being consistently wrong on this company. It has been losing money and paying a dividend quite a bit bigger than earnings and I figured it had no money to get into the pot store business. (And its abilities also did not seem impressive) Most of the gain in this stock already came in the past several months as news had leaked out about this deal. If not for visions of pot profits this stock should have been lower.
Most of the Canadian stocks were down more modestly compared to U.S. stocks.
Tomorrow I will consider doing some bargain shopping. Possibly Toll Brothers and the Melcor REIT. But I see no need to rush.