· TSX fell drastically Tues -387.73 to 13,357.56 after a volatile session, squeezed by financial stocks with investors wary of more turmoil in the US and oil stocks which retreated on a drop in crude prices. "The tone of the market is very negative," said John Stephenson, portfolio manager at First Asset Funds Inc. "Financials have been a great trade to be in for most of the last 10 years, maybe 20. And it's hard for us to get our minds around the fact that that just isn't the case anymore."
· Dow -92.69 following downbeat congressional testimony by U.S. Federal Reserve chairman Ben Bernanke who said the U.S. economy confronts "numerous difficulties" including strains in financial markets, rising joblessness and housing problems. Rising prices for energy and food are elevating inflation risks - and lowering expectations for interest-rate relief.
· Dollar +.29c to $99.77US The closest its been to par in 6 weeks
· Oil, after hitting a record high Friday of $147.27 plummeted -$6.44 to $138.74US per barrel. The largest one day drop in over 17 years, as fears that record fuel prices are spreading broad economic pain led to the 3rd big sell-off in just over a week.
· Gold –has been rising over the past week and hit $987.75,its highest level since March 19, before a drop in oil erased some of the gains to$978.80US per ounce
