07:50:42 EST Mon 09 Nov 2026
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Globe says for TSX, other exchanges: hang on tight

2026-11-09 06:25 ET - In the News

The Globe and Mail reports in its Saturday edition that the stock market this past week was an indication that the weeks ahead will be a wild ride. The Globe's Tim Shufelt writes that Thursday wasn't normal. Out of the blue, technology stocks, by some measures, had their worst day since the pandemic-fuelled drop on March 16, 2020. A couple of troubling signals are emerging. First, the corporate earnings juggernaut that has kept dark forces at bay is starting to crack. In the first half of the year, the furious build-out of artificial intelligence juiced U.S. profits to the tune of 32-per-cent growth, year-over-year. But in the third quarter so far, financial results are outpacing forecasts by just 2.9 per cent. Second, retail investors emerged from the pandemic as a powerful bloc in the investing world. Flush with cash from government stimulus, they bought every dip. On Thursday, retail investors gave in. Meanwhile, the S&P/TSX Composite Index posted a small gain on the week. "Whether the midterms shock turns out to be the catalyst that derails the AI equity boom remains to be seen, but it strengthens our sense that the boom is in its final innings," said Joe Maher, markets economist at Capital Economics in a note.

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