Business Brief: Untangling Roots - The Globe and Mail

Dana Longhurst's Studio 652 began as a pop-up inside Stony Lake Furniture Co at 1 Stanley Street in Lakefield (left) and is preparing to open its permanent new home at 55 Queen Street in early October. (Photos: Studio 652 / Instagram) This edition of businessNOW is about putting down roots — and the ways local businesses and organizations are investing in the people and places around them.

The S&P 500 lost nearly 2% last week, its biggest weekly decline since late June. The Nasdaq fell 4.5%, snapping a four-week winning streak.

China was once the top holder of U. S. Treasuries but has been shedding its massive stockpile for years, fueling fears of de-dollarization, but official data may not fully capture Beijing’s actual portfolio. The decline began in earnest around 2021, but as recently as April 2022, China still held $1 trillion in Treasury securities. U. S. data on Friday show that’s been whittled down to just $591 billion as of August, the lowest in 18 years and down from $700 billion a year earlier.