Newspaper article The Canadian Press

--Third NewsWatch-

Newspaper article The Canadian Press

--Third NewsWatch-

Article excerpt

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(Financial Markets)

Stock markets around the world are taking another beating today following yesterday's dramatic sell-off on Wall Street.

Losses in Asia this morning have triggered concerns that a potentially healthy pullback from recent highs could turn into a protracted bear market.

The selling, which gathered pace yesterday when the Dow Jones posted its biggest percentage decline since August 2011, has been sparked by fears the U-S Federal Reserve will raise interest rates faster than many were predicting.

U-S Vice President Mike Pence is characterizing the stock market's plunge as "simply the ebb and flow of our stock market."

He urges people to focus on the fundamentals of the U-S economy -- job growth, wage growth and low unemployment -- which he says continue to be strong. (3)

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(Ont-Opposition-Mulroney)

Caroline Mulroney sees an opportunity for some much-needed change in Ontario's Progressive Conservative party -- and says that is why she has joined the leadership race.

At her first campaign event last night in Toronto, she told a crowd of supporters that a last-minute leadership race may be difficult for the party, but could be best in the long run.

The daughter of former prime minister Brian Mulroney is up against ex-city councillor Doug Ford and former leadership contender Christine Elliott in the race. (3)

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(Que-Legislature-Returns)

Quebec will open its last legislative session today before the fall provincial election.

Premier Philippe Couillard says his Liberal government's seven remaining months will be focused on the economy, innovation and transport, as well as measures to help families.

His finance minister has said his next budget will include tax cuts for small and medium-sized businesses.

Several high-profile cabinet ministers are considering retiring from politics, including House Leader Jean-Marc Fournier and National Assembly Speaker Jacques Chagnon. …

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