Article content

TORONTO • North American stock markets suffered their worst week since 2012, as concerns grow that the global economy is once again slipping into slower growth, despite the stimulus efforts of the past two years.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Closing Bell: North American markets suffer worst week since 2012 as Dow erases gains for the year Back to video

Friday’s losses resulted in the Dow Jones Industrial Average erasing its gains for the year, with the index falling 115.15 points, or 0.69%, to 16,544.10. The S&P/TSX Composite Index slid 233.24 points, or 1.61%, to 14,227.36.The S&P 500 lost 22.08 points, or 1.15%, to 1,906.13.

With little guidance from the world’s major central banks, traders have latched onto the recent spate of weak economic data, which has accelerated the sell-off. All major developed world stock markets are down for October.

“Investors are asking themselves, ‘Is this the start of another round of slowing growth?’” said Jason Mann, co-founder and portfolio manager at EdgeHill Partners in Toronto.

This week particularly illustrated the divide between the more resilient North American economies of Canada and the United States and the slowing economies of the eurozone, China and Japan.