Bad day 📉 — A really rough day on the markets. Hiring freezes could creep up in Canada. And big companies are leaving Alberta’s oil sands.

The TSX re-enters correction territory and S&P falls into bear market as recession fears intensify with rising inflation.

Layoffs and hiring freezes in the US tech sector are creeping into Canada, with some prominent industry figures worried that tech could lose more jobs than during the 2008 financial crisis.

Big oil companies are fleeing Alberta’s oil sands as the industry becomes a villain of the environmental, social and governance investing movement, per Bloomberg.

The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.