MID-DAY: ECB decision to keep interest rates steady tanks global markets
North American markets are slumping after the ECB gave a dubious outlook for Europe’s economy. On Bay Street the TSX is down 62 points to 16,029 and across the border the Dow is down 270 points to 25,403. The dips come after the ECB stayed put on its current interest rate citing issues with economic problems like Brexit.
The price for crude is still seeing some growth as investors focus on OPEC cuts and Venezuela sanctions. US crude is pushing to 56.64 a barrel.
The energy-tied Loonie is getting a boost to 74.49 cents US after slumping on the Bank of Canada’s decision to keep interest rates status quo as well.