TD Bank’s exposure to the volatility in the US banking sector is having a significant impact on the stock markets.
BNN Bloomberg’s Paige Ellis reports that TD Bank, along with other regional banks, are facing serious challenges due to the ongoing chaos in the banking sector.
Earlier this morning, TD Bank and First Horizon agreed to end their merger, which had been announced a year ago.
This news, along with other concerns in the sector, has led to a drop in the TSX and DOW markets.
However, Shopify is bucking the trend, with its shares surging more than 20% after announcing a huge strategic pivot.
The e-commerce platform is returning to its roots, selling off its warehousing and logistics business to focus solely on e-commerce.
Investors are rewarding this move, as the market believes the warehousing strategy was too complex.
