Thomas Caldwell, chairman of Caldwell Securities Ltd., said that despite stronger job numbers in the U.S., the Canadian markets will face trouble in the coming days.

“I don’t think you can hang it on one group of statistics in one time frame. This game isn’t over yet,” he said.

Major exchanges and indices in London, Frankfurt and Paris were down during Friday trading, while Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai Composite Index dropped by more than two per cent each.

Caldwell blamed the drop on a perceived lack of confidence in the current U.S. political leadership, especially after the near calamitous debt crisis.

“They never seem to stop running for election, and they should take some time out in America to try to run a good government,” Caldwell said. Read more at news.sympatico.ctv.ca