Midday: Investor tensions easing as VIX slowly drops, but US inflation still a concern
Investor tensions are calming as the VIX, also known as the investor fear index, has dropped slightly after a major market sell-off on Monday.
The index Is down to 26.74, but still fairly high. Traders say this could be because investors are still nervous about the impacts of US inflation on the interest rate.
And the volatility in the markets continues today, the Dow is down 339 points to 24,553 and the TSX is down 64 points to 15,266.
Oil prices, feeling the impacts of high production in the US, are still sliding, down 0.43 cents to $61.36.
Gold is up $1.90 to $1,316 an ounce and the Loonie is at 79.37 cents US.
Canadian engineering firm SNC is the winning bidder on a $6 project in Montreal.
The firm will oversee construction of Montreal’s light rail system and will also be supplying trains for the networ