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Stocks Negative to End Negative Week
Baystreet·- Canadian equities dropped on Friday, with the TSX falling 135.27 points to 35,788.18 amid heavy losses in consumer and gold sectors. - Wall Street also declined as the Dow Jones lost 652.82 points to 52,215.16 due to broader market selloffs and rising oil prices topping $100 a barrel. - Statistics Canada reported a 1.2% increase in August retail sales to $74.6 billion, while markets priced in a quarter-point Bank of Canada rate hike.AI Power Surges and Stablecoin Crashes: The Tumultuous Turn of Niche Stocks
Global Report·- Multiple fringe and thematic stocks experienced dramatic volatility driven by technology trends, financing issues, and market speculation. - Vicor surged 54 % in September on AI power technology before dropping 28 % due to patent lawsuits, while Stablecoin Development lost over 80 % of its market value following a short-seller report. - Luckin Coffee secured a 1 billion USD strategic investment from Abu Dhabi sovereign wealth fund Mubadala, and other firms like HeartFlow and Frontline reported significant operational and market developments.
