Last week was an anxious period for equity investors as the week started with news of a data breach at Facebook resulting in its stock retreating 10% over the course of the week. As Facebook is one of the largest components of the S&P 500 and privacy concerns affect a number of large organizations, the news was felt broadly.
The week was capped off with escalating fears of a trade war between the United States and China as they announced new actions against one another. While these events suggest equity investors may experience more volatility in the short-term, solid earnings growth provides the potential to maintain the ongoing bull-market.
Tax Packages; Tax packages have been sent and additional print runs of T3/T5013 packages will follow until all tax information and amendments from external issuers have been received.
This Past Week; The events as played out above caused the biggest one week drop in markets since January 2016 with TSX down – 3.1%. US markets felt the impact more with the DOW and the SP500 down -5.7% and -6.0%. World markets were broadly negative as well. As we have been maintaining we believe this volatility provides buying opportunities and patience will be rewarded.
The Weekend/Weather; We experienced the first day of spring last week and the weather continues to improve seasonally as it should.
Hopefully you are able to take the opportunity to enjoy the outdoors this week.
Global Insight WEEKLY
March 22, 2018
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