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Global Markets: “Storm of a lifetime” to hit Friday

By Commodity News Service

Sept. 12 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.

– Hurricane Florence, referred to as a “storm of a lifetime” by the U.S. National Weather Service, could now stall as it approaches the Carolina coast and batter a major swath of North and South Carolina and Virginia for days. Already more than one million people have evacuated the area. The Category 4 storm is expected to hit land on Friday.

– United States President Donald Trump continues to lash out against the book Fear, by author Bob Woodward, calling it a joke as the book went on sale yesterday. Former White House staff Rob Porter and Gary Cohn publicly defended Trump and said the book does not accurately portray the situation.

– Canadian Prime Minister Justin Trudeau said he would not block Ontario’s use of the Constitution’s notwithstanding clause, even though he was disappointed with the decision. Ontario Premier Doug Ford is recalling the legislature to force through his plan to reduce the size of Toronto city council. A judge ruled Monday that it was unconstitutional for Ford to cut the size of the council while in the middle of municipal elections.

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