Skip to main content

Featured

The Subway That Took a Generation: Why the Eglinton Crosstown’s Delays Were Even Worse Than You Think

  Toronto has a long history of transit projects that drag on, but the Eglinton Crosstown LRT has become the city’s defining example of how complicated, political, and painfully slow building transit can be. Most people think of the project as something that started in the early 2010s and simply ran over schedule. The truth is far messier—and stretches back decades. A Project With Roots in the 1990s Long before shovels hit the ground in 2011, the idea of rapid transit along Eglinton was already alive. In the mid‑1990s, the TTC began digging tunnels for what was then called the Eglinton West Subway . Construction actually started—tunnels were being carved out under the street—until the project was abruptly cancelled in 1995. The partially built tunnels were filled in, and the corridor sat untouched for years. That early false start meant that by the time the Crosstown was revived as part of the Transit City plan in 2007, planners weren’t starting fresh. They were restarting a dr...
Post a Comment
Read more

article

Labels

Inflation Jitters Rattle Markets: Dow Plunges 500 Points

U.S. stock markets were gripped by turbulence today as investors grappled with a hotter-than-expected January inflation report. The data revealed that prices cooled at a slower pace than anticipated, sending shockwaves through Wall Street.

Here are the Numbers

  • The Dow Jones Industrial Average (DJI) plummeted 1.4%, shedding approximately 500 points.
  • The S&P 500 (GSPC) followed suit, experiencing a similar drop.
  • The tech-heavy Nasdaq Composite (IXIC) led the day’s sharp declines, closing down 1.8%.

Impact of Inflation

  • The Consumer Price Index (CPI) release for January showed “core” prices increased by 0.4%, marking the largest monthly gain since April 2023.
  • On a headline basis, prices surged 3.1%, surpassing economist estimates but decelerating from December’s 3.4% annual gain.

Bitcoin’s Comeback

  • Meanwhile, the price of Bitcoin (BTC-USD) hovered below $50,000 after breaching this closely watched level for the first time since 2021.

Market Fallout

  • It was the worst day for both the Nasdaq and S&P 500 since January 31, while the Dow experienced its most significant decline since March 2022.
  • Small caps also suffered, with the Russell 2000 (RUT) closing at its lowest level since June 2022.

As investors recalibrate their expectations, uncertainty looms over the path forward. Will the Federal Reserve’s next move address these inflationary pressures? Only time will tell.


Labels:

Comments

Post a Comment