On Aug. 5, stock markets had their worst day in nearly two years, deepening the prior week’s decline that pushed the Nasdaq Composite Index into correction territory.
Sectors such as mining and healthcare saw a broader decline. However, the technology sector bore the brunt of the sell-off. The so-called “Magnificent Seven” group of stocks shed hundreds of billions in market value in a single day.
These high-flying stocks, which have driven recent market gains, are now facing intense profit-taking amid growing investor panic of a recession.
The Market Online sat down with Albert Mason from Raymond James to look further into why this global sell-off happened, what the results are for the TSX, and what investors should be watching in the coming weeks. Watch the video above for the full interview with Mason.
And check out Mason’s recent interview with us about what’s happening with the U.S. Federal Reserve’s interest rates.
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