North American markets ended the trading week in the red, with Canada’s main stock index down more than 170 points and U.S. stock markets falling amid inflation worries and a stark warning from FedEx about worsening trends in the economy.
The S&P/TSX composite index was down 174.28 points at 19,385.88, dragged down by weakness in industrials, technology, energy and financials.
In New York, the Dow Jones industrial average was down 139.40 points at 30,822.42. The S&P 500 index was down 28.02 points at 3,873.33, while the Nasdaq composite was down 103.95 points at 11,448.40.
All the major U.S. indexes have now posted losses four out of the past five weeks.
FedEx saw its biggest single-day sell-off on record Friday, falling 21.4 per cent, after warning investors that profits for its fiscal first-quarter will likely fall short of forecasts because of a dropoff in business. The package…