The Rally Erased: Nasdaq in Correction, Oil Bounces Back, and Canada's Sixty-Two Billion Dollar Deficit
Wall Street erased Wednesday's election rally on Thursday as the Dow fell 1,833 points, the Nasdaq slid into a correction on a 12.25 percent chip rout, and Brent crude bounced to 98 dollars on fresh tanker attacks in the Strait of Hormuz. The Bank of England hiked to 4 percent for the first time since 2023, Canada tabled a budget with a 62.3 billion dollar deficit and 142 billion dollars in new spending, and strong earnings from Tapestry, Airbnb and Cloudflare set up a pivotal U.S. and Canadian jobs morning. The Daily Ledger, with Alex and Jordan.
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