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This week it started when China further devalued the Yuan, with the exchange rate to dollars dropping below 7.

US markets were down. The S&P was down just shy of 3%, and the NASDAQ down nearly 3.5%. Gold was up into the $1,460s.

The S&P 500 was down almost 3% today, and extended the rout after hours
The Dow Jones Industrial Average was not spared from the carnage

Gold is up 14.7% on the year, outperforming the S&P 500, which is up 13.45% as well as the Dow Jones, up 10.17% on the year.

The more volatile NASDAQ composite is still up over 16.5% for the year

After hours the United States has labeled China a “currency manipulator”, driving gold up even more to over $1,470.

The Toronto Stock Exchange was closed today for Civic Holiday, which could result in some turmoil when it reopens Tuesday.