Canada’s main stock index was marginally higher on Friday, breaking its five-day losing streak. Our counterparts south of the border also fared better following a two day sell-off that caused the Dow to shed over 1,300 points. Both indexes closed the week down over 5%; their biggest weekly declines since March.
Sentiment was rocked around the globe in recent sessions as investors grew nervous over the rise in interest rates. Jumping into the conversation was President Donald Trump who blamed the U.S. Federal Reserve for the decline in the stock markets. President Trump stated on Wednesday that he wasn’t happy with how the central bank continues to raise interest rates. Some of you may recall the 10% selloff in February which was largely attributed to similar factors: rising yields and the Fed’s more hawkish stance.