2015 was a dismal year for oil prices, the loonie, and Canadian stock markets
On the final trading day of the 2015 on Thursday, the S&P/TSX composite in Toronto was at 13,009, a loss of 132 on the day and off 11 percent from a year ago. This is the worst performance since 2011.
|The TSX peaked on April 15 at 15,524 but since then has dropped 16 percent. The Canadian economy has struggled with output flat or even down some months. In the U.S. stock markets performed better than in Canada but turned in a mixed performance. The Dow Jones dropped 2.2 percent over the year, and the S&P 500 less than one percent. The Nasdaq actually gained 5.7 percent.|
"There is not a sudden moment when we realized prices were going to be lower for longer. There is consensus now that prices are going to be low and for much longer than people anticipated."Some auction houses in Alberta are seeing their business boom as companies sell off equipment to keep cash flowing.