Plunging stock markets around the world show it's no time to change economic … – National Post + MORE Aug 24th

National PostPlunging stock markets around the world show it's no time to change economic …National PostDRUMMONDVILLE, Que. — Stephen Harper says now is not the time to try new and untested economic strategies. Against a background of plunging stock markets around the world, a dollar down by almost a cent and oil prices below $40 US a barrel, Harper …Fiscal plans take centre stage after turmoil in marketsCTV NewsPhotograph by: Paul Chiasson, The Canadian Press , Vancouver SunVancouver SunStephen Harper warns NDP, Liberals pose threat to economy amid market worriesCBC.caThe Guardian -Reuters -The Globe and Mailall 74 news articles »

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TORONTO – If past practice is any indication, the majority of post-secondary school students will likely run out of money before the school year ends — and end up turning to the Bank of Mom and Dad for help.
A new poll from CIBC (TSX:CM) has found that 51 per cent of post-secondary students tapped their parents for additional financial support last year because they ran out of money.
And according to the bank, there wasn’t much difference between students from higher- and lower-income families.
CIBC said some 48 per cent of students from families with household incomes of more than $125,000 tapped their parents for extra cash, compared with 52 per cent from families with household incomes of less than $75,000.
What happens if I default on my student loan? »

Sarah Widmeyer, managing director and head of Wealth Advisory Services, at the bank, said that even though 86 per cent of parents surveyed considered themselves good role models for financial planning, some students were treating their parents like personal ATMs…

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The Canadian, U.S. and international markets all fell more than 5% last week, the sharpest weekly drop we’ve seen in almost four years. Then today, on August 24, global markets plunged even further. If you were waiting for a pullback to give you a buying opportunity, you just got it. But if you’re sitting in cash and paralyzed with fear, you’ve just learned how you can get into trouble when you invest without a plan.
Let me be clear before we go further: I’m not recommending that investors hoard cash and wait for big drops like this one. Let’s remember that the last time we saw a sharper one-week decline was September 2011. The opportunity cost of being uninvested—even for a couple of months, let alone four years—can be enormous. So if your savings are coming from a regular paycheque, you are better off setting up an automatic investment plan that removes the emotion from your decision making…

CBC.caTSX, Dow sink lower after China sparks huge stock selloffCBC.caNorth American stock markets moved much lower on Monday as investor fears about a Chinese economic slowdown spread around the world. The TSX started off down about 750 points before clawing its way to only be down about 100 points around midday …Global sell-off turns to chaos in rocky day for financial marketsWashington PostChina stock plunge hits world markets, but US stocks stabiliseReutersWorld stock markets plunge after fall of China sharesABC OnlineNew York Times -BBC News -Financial Timesall 5,021 news articles »

Wall Street entered correction territory on Monday, with the Dow sliding below 16,000 for the first time since February 2014 following a more-than 8% drop in Chinese stocks and a selloff in oil and other commodities.