Investors have their eyes on the Toronto Stock Exchange Tuesday morning after US stocks crashed on Monday.
The Dow Jones Industrial Average tanked 1,000 points while the NASDAQ dropped nearly six percent. Global markets also felt the squeeze, with the Japanese stock market experiencing its biggest decline in nearly forty years. Meanwhile the TSX was closed due to Canada’s civic holiday.
Shares of Apple dropped five percent after Warren Buffet’s Berkshire Hathaway divested half of its holdings in the tech giant.
However, investors do not seem to be panic selling, with many economists suggesting the selloff is a correction after lower-than-expected earnings from several major companies.