The Canadian stock market took such a dive this morning it went–literally–through the bottom of a Google Graph of the S&P/TSX Composite, the Canuck benchmark index (see this screenshot we took at 10.14 AM). The drop was largely attributed to Standard and Poor’s downgrading of the US’s long-term creditworthiness from AAA to AA plus on Friday. The S&P/TSX Composite tumbled over 3 per cent in early morning trading before rebounding slightly.
Economists Stephen Gordon (ULaval), Mike Moffatt (Western) and Kevin Milligan (UBC), as well as Macleans.ca’s Erica Alini and guest bloggers write about the economy and economic policy in Canada, the U.S. and the world. We like charts. On Twitter, follow Stephen: @stephenfgordon; Mike: @mikepmoffatt; Kevin: @kevinmilligan and Erica: @ealini.