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Weekly Market Snapshot: AI Rout, Oil Plunge and Weak Jobs Rock the Week (Nov 2–6)

  It was a week of two completely different markets. Stocks jumped early after Democrats won control of Congress in the U.S. midterms, and oil collapsed on hopes of a path to ending the Iran conflict. Then, on Thursday, a violent AI and chip selloff hit Wall Street, tipped the Nasdaq into a correction and spread to Asia and Europe on Friday. Canada's S&P/TSX managed a small weekly gain, helped by metals and a late bounce, but the loonie and the job market told a weaker story at home. 🇨🇦 Canada: A Small Gain, a Big Midweek Swing The S&P/TSX Composite closed Friday at 35,789.09 , up 183.82 points on the day and about 0.5% higher for the week from last Friday's 35,620.03. The path was bumpy: the index climbed to 36,341.40 on Wednesday (+2.28%), then dropped 736 points (-2.03%) on Thursday to 35,605.27, its sharpest one-day fall in about five months, as tech stocks sold off with Wall Street. Friday's rebound was led by base metals, health care and technology. Shopify...
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Hospitals Overwhelmed as New Virus Spreads in China

Hospitals across northern China are facing unprecedented pressure as a surge in cases of Human Metapneumovirus (HMPV) overwhelms healthcare systems. The virus, which causes flu-like symptoms, has led to overcrowded emergency rooms and intensive care units, reminiscent of the early days of the COVID-19 pandemic.

HMPV, a respiratory virus discovered in 2001, typically causes mild symptoms such as cough, fever, and congestion. However, this winter has seen a significant spike in infections, particularly among children and the elderly. Health authorities are implementing emergency measures to manage the outbreak, but the sheer volume of cases is straining resources.

The Chinese Center for Disease Control and Prevention (CDC) has reported that while the virus is not new, the current outbreak is more severe than usual. Officials are urging the public to take precautions such as frequent handwashing, wearing masks, and avoiding close contact with sick individuals.

Despite the challenges, experts remain optimistic that the situation can be managed with coordinated efforts and public cooperation. The global community is closely monitoring the situation, hoping to prevent a repeat of the widespread impact seen during the COVID-19 pandemic.

As the world watches, the resilience of China's healthcare system and the effectiveness of its response will be put to the test once again.



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