After months of plunging values due to the global financial meltdown, the Toronto Stock Market suffered its worst one-day percentage loss since the crash of October, 1987. The S&P TSX composite index fell 864 points or 9.3 per cent on November 1st. Jeff Rubin, chief strategist at CIBC World Markets, said investors had a rash of bad economic news to digest. (Analysts said the parliamentary crisis contributed to the selloff. But they also pointed to an announcement that the US had been in recession for a year.)

Date: 2008-12-01
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 21 seconds

Transcript Prediction: << I think it's too early to get a new lay-of-the-land on that score but all I'm saying is there are other more fundamental reasons and right now the fundamental reasons have been you know US economy that probably will shrink by about 4% in the fourth quarter and still a lot of financial Market deleveraging >>

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