Service sector reports Contraction, Ignites Recession fears

Tags: Dow Jones, TSX, CME, NYSE Euronext, NYX, NMX, Nasdaq
5 Feb 3:33am
Posted by ChrisKrasowski
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Markets around North America tumbled Tuesday as an unexpected hit in the Services sector drove stocks to a large sell-off. The Dow, Nasdaq and S&P were all off about 3% while the Canadian TSX slid over 2.5%. Investors re-kindled recession fears on the news of a contracting indicator of service sector strength, and on that basis sold off stocks broadly. The research metric for the service

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ChrisKrasowski

WC Power Tech Fund founder. Chris sets out to prove that the new generation of investor can emerge from nontraditional circumstances. An engineering graduate from a Canadian University, Chris developed his passion for investing and the markets at an early age and personally owned his first stock at the age of 16. Now 24, with work experiences in the banking and investment banking industries in front of him and behind him, Chris built a personal trading account into the unofficial WC Power Tech Fund. The fund's official blog gives Chris the opportunity to write about investment topics of all shapes and sizes giving insights, opinions and market commentary to seasoned and new investors alike. Visit: http://wcpowertechfund.blogspot.com

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