Monthly Market Snapshot – September 2011
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(Pertinent and general disclosures attached.)
It was a tumultuous month for equity markets as a weak global recovery continues to pose major concerns for investors. Most indices were swinging between major gains or major losses over a very short period of time and the vast majority ended the month on a negative note. The S&P 500 dropped 5.4 percentage points, the TSX Composite fell by 1.2 percent, the MSCI World and MSCI Emerging Markets indices were down by 6.7 and 7.3 percent, respectively. Contributing factors for such dismal results have been highlighted in detail below; however, investors can expect volatility to be the norm as disappointing growth in the U.S. and the European sovereign-debt crisis are two gaping holes that need to be filled before global recovery can take place.
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