Stock traders are wiping their brows, after a heart-stopping week

Bay and Wall streets posted losses again Friday, but nothing like what we saw during one of the worst hours of trading ever Thursday.

The TSX is down 150 points, but lost 4.2 per cent on the week.

The Dow Jones shed another 140 points after briefly tumbling nearly 1,000 Thursday.  

Scotiabank’s deputy chief economist says a tentative sigh of relief was likely exhaled around the world when the closing bell sounded, but Aron Gampel says traders are still jittery.  “I think there’s a lot of nervousness.  Of course the repercussions from the U.K. election, and I think the realization that these debt burdens are large and are not going to go away that quickly.”

Gampel says even some good news on our side of the pond wasn’t enough to put the whole scare in the rear view mirror.
“Even very strong employment numbers weren’t sufficient here in North America to drive the markets back up. So hopefully, keep your fingers crossed that it goes back up, but it looks like it’s still going to be treading water.”

Thursday free fall is being blamed on a trading error, along with prevailing fears that Greece’s debt crisis is spreading.

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