US stocks sold off sharply on Monday, with the Dow industrials falling back below 25,000, as a pullback from record highs deepened and investors grappled with rising bond yields and potentially firming inflation. All three major U.S. indexes fell more than 1 per cent while the Dow and S&P 500 dropped more than 2 per cent. Late in the session, the Dow was down almost 1,600 points. The index then pared some of its losses to just over 900 points. The Dow’s point loss would be its biggest of all time, though in percentage terms, its 5.6 per cent decline wasn’t as big as its worst drop during the financial crisis — Financial Post
NEW HUDSON BAY CHIEF
Helena Foulkes, former executive with the CVS pharmacy in the US, is the CEO for Hudson’s Bay Co. Foulkes. She starts in two weeks. Richard Baker has been acting as HBC’s interim CEO since the departure of Jerry Storch last fall. Baker will continue as governor and executive chairman. “Helena is a transformational leader who will invigorate the business with a new perspective as we position HBC for the future,” Baker said in a statement.
