Markets giveth and taketh

The fastest correction on record has been replaced by the fastest bear market on record as many major equity markets breached the -20% decline threshold this past week. It was just over three weeks ago that the North American markets were at all-time highs. On March 12, the TSX was down 12.3% and the S&P by 9.5%, the U.S. index’s biggest single-day loss since 1987. If it’s any consolation, that faithful day in October 1987 saw the market drop over 20% in a single day. Still, the speed of this market decline has tested the metal of just about every investor. Read more...