As Canadian stocks tumbled Tuesday, wiping out roughly $29 billion in value from the S&P TSX Composite Index, market watchers said there could be more financial carnage to come. Falling oil prices typically hit stocks in Canada harder than in many other countries because of the energy sector’s significance to the Canadian economy. With Bloomberg estimating the overall value of the index at $2.3 trillion, that means the stocks making up the index lost roughly $29.6 billion in market value. In the U.S., the drop began with high-profile tech stocks such as Apple and Microsoft, but soon spread to other sectors. If tech stocks cannot shake the fears, the rest of the market could feel the pain.

Source: thestar November 20, 2018 22:06 UTC