Toronto Star

Volatile markets expected

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North American stock markets are likely in for more volatility and negative action this week after a dismal read on American employment last Friday reinforced worries that an economic slowdown that started in the housing sector could end up tipping the United States into recession. Stock markets ended Friday with triple-digit index losses after the U.S. Labour Department’s nonfarm payrolls report showed job creation essentiall­y dried up last month with only 18,000 positions added, considerab­ly below the 70,000 that had been expected.

It was the smallest increase since August 2003 and the U.S. unemployme­nt rate rose to 5 per cent from 4.7 per cent.

The Toronto market ended the week flat. From The Canadian Press

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