BEFORE THE BELL: IMF global growth downgrade hits markets as investors stress over recession
Concerns over a global economic slowdown are likely to weight North American markets today. The concern comes after the International Monetary Fund downgraded its global growth projection to 3.5 per cent for 2019. The group cited issues with trade, China’s struggling economy and weakness in the EU as well as Brexit drama in its report.
This could threaten the recent win streak for the TSX.
The Dow is back in action today after Wall Street’s three-day weekend.
The shift in the markets is filtering down to crude prices as investors worry over a drop in demand. US oil is down to 53.14 a barrel.
The energy-tied Loonie is slipping to 75 cents US.