If?you have been impacted by the California Public Safety Power Shutdown and cannot contact your financial advisor, please?call our Client Relations department at 1-800-511-5768 (Monday-Friday, 7 a.m. – 7 p.m. CT) or view additional contact options.
U.S. stocks have declined by more than 2.5% over the last two days (Oct. 2) on worries that a slowdown in manufacturing will spread to other parts of the U.S. economy. The catalyst for the increased volatility was the release of the U.S. Purchasing Managers' Index (PMI) on Tuesday (Oct. 1), which showed manufacturing activity contracting in September for the second month in a row, falling to its lowest level in 10 years. Cyclical sectors led the way on the downside, with industrials, financials, materials and energy among the hardest hit.
While market volatility can be unsettling, we're not surprised by its return or the slowdown in manufacturing. We highlight the following:
Angelo Kourkafas, CFAInvestment Strategy Analyst
*The TSX and S&P 500 are unmanaged and are not meant to depict an actual investment.
Past performance does not guarantee future results.
Investors should understand the risks involved in owning investments, including interest rate risk, credit risk and market risk. The value of investments fluctuates, and investors can lose some or all of their principal.
Special risks are inherent to international investing, including those related to currency fluctuations and foreign political and economic events.
This information is for educational and illustrative purposes only and should not be interpreted as specific investment advice. Investors should make investment decisions based on their unique investment objectives and financial situation.