The cannabis sector came down from its highs on Friday as global markets plunged on heightened concerns over higher interest rates.

The Nasdaq was the hardest hit and the exchange fell more than 2.5%, while the Dow and S&P 500 dropped more than 2% each.

What to Expect Today?

This market is poised to open lower this morning as global markets are still concerned over a possible rate hike when the FOMC meets next week.

We expect the United States market to trade weak as investors wait to hear from Fed Governor Lael Brainard at 1:15pm EST. The reason why her speech is significant is because Brainard is a voting member of the FOMC and she is typically known to be a dove, meaning that she is less likely to raise interest rates.

Girls Develop is the most important community for professionals within the authorized marijuana trade in North America. It takes benefit of the nonetheless largely unexplored sector to encourage ladies success tales and create a story round massive ladies participation within the trade. Founder Jazmin Hupp explains the concept got here after observing that present initiatives to advertise a bigger participation of ladies in entrepreneurship had a restricted impression.

Kevin Coft and his medical marijuana startup are benefiting in a big way as the New Brunswick government embraces the job opportunities this budding industry could bring to the province.

On Aug. 23, the government invested $4-million in Zenabis, a company Mr. Coft launched to build a proposed medical marijuana facility in Atholville, N.B. The money comes in the form of a repayable loan, and Mr. Coft says it signals that Premier Brian Gallant’s Liberal government is serious about supporting the sector.

U.S. News Updates

Alaska

Even the Jamaican ganja dealers are going legit.

Long a cannabis-friendly vacation destination — even if the commerce patronized was, technically, illegal — the birthplace of Bob Marley is laying plans to create a legal, government-sanctioned “health and wellness tourism” economy.

And that includes Jamaican-grown cannabis.

During remarks given at Canex Jamaica — the island’s very own cannabis business conference — Minister of Tourism Edmund Bartlett said he believes Jamaica’s southwestern coast is the ideal place to draw tourists more interested in being healthy than swilling tequila on the beach in Cabo.

There is no doubt that the legal cannabis business is booming. In August, the Oregon Department of Revenue announced that it had collected more than $25 million in taxes on cannabis sales in the first six months of 2016. The Oregon Liquor Control Commission (OLCC) had previously estimated only $18.4 million in taxes in the entire first two years of sales. That means so far this year Oregonians and our visitors have consumed more than five times the amount of legal cannabis than the state expected.

The wholesale price of marijuana in Colorado has continued to plummet since recreational use of the drug was legalized in 2014, according to a report by Business Insider on Sept. 1.

Data from Tradiv, a marijuana distribution platform, shows the price of one pound of marijuana has decreased by approximately 40 percent between October 2015 and August, from $2,400-$2,600 to $1,400-$1,600.

An increase in overall product supply is the main culprit for Colorado’s marijuana growers who are taking a hit in profit margin now, each being virtually unlimited in how many plants they can grow.

Ohio’s regulations that will lead to the opening of most medical marijuana businesses are at least a year away, but that hasn’t stopped some local governments from pursuing moratoriums or outright bans on such businesses now.

“Folks are just jumping the gun,” said Aaron Marshall, spokesman for Ohioans for Medical Marijuana. “There’s no reason to cast a moratorium on any type of business. The system being set up is 12 or 18 months away. ... If you look at the places doing this, they are small towns, rural Ohio, more conservative areas that are afraid of the unknown.”

1000’s of individuals descended upon downtown Los Angeles for an enormous marijuana expo.

The Hashish World Congress and Enterprise Exposition goals to coach these interested by becoming a member of or networking with the cannabis trade.

Many gathered on the Los Angeles Conference Middle to have the ability to speak to attorneys, docs and advocates about cannabis-based companies.

A lot of the speak additionally circulated round Proposition 64, which might make recreation marijuana authorized in California.

The measure shall be on the Nov. eight poll. A number of advocates spoke in favor of the invoice, together with Montel Williams.