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Wall Street Braces as Tech Rout Deepens

US markets looked set for another turbulent session as futures for the S&P 500 and Nasdaq pointed lower, signaling continued pressure on the tech sector. A wave of selling has swept through major technology names this week, and Thursday’s pre‑market action suggested the downturn isn’t over yet. Alphabet remained a major drag after its sharp slide, with investors reacting to concerns about rising AI‑related spending and the uncertain payoff timeline. The pullback has added to broader anxiety across the sector, where valuations have been tested by shifting expectations around growth and profitability. Amazon now sits in the spotlight as traders await its upcoming earnings report. With sentiment already fragile, the company’s results could either steady the market or accelerate the sell‑off, depending on how its cloud and retail segments perform. Commodities also reflected the risk‑off mood. Silver prices tumbled, extending a recent decline and underscoring the cautious tone acros...
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Freeland's Exit and Economic Woes: Canada Faces $61.9 Billion Deficit

In a dramatic turn of events, the Canadian government unveiled its fall economic update on Monday, revealing a staggering $61.9 billion deficit for the last fiscal year. The announcement was overshadowed by the abrupt resignation of Finance Minister Chrystia Freeland, who stepped down just hours before she was scheduled to present the update.

Freeland's resignation letter, posted on social media, cited irreconcilable differences with Prime Minister Justin Trudeau over the country's economic direction. She criticized the government's "costly political gimmicks" and urged Trudeau to work collaboratively with provincial leaders to address the looming threat of tariffs from U.S. President-elect Donald Trump.

The economic update, tabled by Government House Leader Karina Gould, includes over $20 billion in new spending and a $1.3 billion border security package aimed at countering Trump's tariff threats. The document also highlights the government's GST holiday, which took effect on Saturday and is expected to cost $1.6 billion.

Freeland's departure has sparked calls for Trudeau's resignation and raised questions about the future of Canada's economic policy. Public Safety Minister Dominic LeBlanc has been sworn in as the new finance minister, tasked with navigating the country through these turbulent times.



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