On August 5th, the stock markets experienced a significant decline, marking one of the worst days in nearly two years. This decline followed a previous week of losses that caused the Nasdaq Composite Index to enter into correction territory.
Various sectors, such as mining and healthcare, saw a widespread decrease in value. However, it was the technology sector that was most heavily impacted by the sell-off. A group of high-performing stocks, known as the “Magnificent Seven,” collectively lost billions in market value in a single day.
These stocks, which have been driving market gains in recent times, are now facing significant profit-taking as investors grow increasingly concerned about the possibility of a recession.
To gain further insight into the reasons behind this global sell-off, its implications for the TSX, and what investors should be attentive to in the upcoming weeks, The Market Online interviewed Albert Mason from Raymond James. To view the full interview with Mason, please watch the video above.
For additional information, you can also read Mason’s recent interview regarding the U.S. Federal Reserve’s interest rates.
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