MID-DAY: North American markets plummet as US dollar strengthens
Market volatility, edged higher by the Turkish lira drop, is pushing investors to move to safer options.
And the safest option seems to be the US dollar, which is pushing to 13-month highs according to analysts. This is putting stress on other stocks across the globe and weighting North American markets. The TSX is down 218 points to 16,160, also weighted by a drop in commodities as the price of US crude falls to 65.93.
The Loonie is also feeling the oil drag as it falls to 76.11 cents US.
Across the border, the Dow is plummeting to 296 points to 25,003.
Meanwhile, Corona-maker Constellation is investing 5 billion in Canopy Growth to break into the cannabis market in Canada.