A few days or weeks later, the dead cat smacks the pavement again. That's happening all across the globe. In Canada, the Toronto Stock Exchange index is down 33.0 percent. The three key U.S. markets are down, too. Now consumers are tightening their belts.
Businesses are, too.
Manufacturing companies are slashing inventories and laying-off workers. Its Subsidiary Freightliner then laid-off 1,084 IAM members. The numbers continue to mount. Dorsey Trailer closed a factory making truck trailers in Alabama and another 700 IAM jobs disappeared. In Ontario Province, Visteon closed an auto parts factory with 1,200 IAM members in the unit.