The S&P/TSX composite index lost more than 350 points, or almost two per cent, to 19,655 nearing the end of the trading day. Even as recently as last week, the TSX was nearly 1,000 points higher than it is right now. "Oil is a very classic risk asset, so it's going to ease off a bit," he said in an interview. He notes that prior to Monday's sell-off, the TSX was up by almost 20 per cent this year. He blamed most of the sell-off on automated trading algorithms programmed to follow momentum — and end up feeding on themselves.

Source: CBC News July 19, 2021 19:18 UTC