Many provincial governments suffered greater problems with a number of them returning to deficits, which was blamed on the fiscal imbalance.
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The actual burst of the stock market bubble occurred in the form of the NASDAQ crash in March 2000.
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For much of the 1990s the rapid rise of the TSX had almost wholly been attributed to two stocks: Nortel and BCE.
The 2000s (decade) brought a mix of pessimistic news stemming from the Early 2000s recession, the September 11 attacks and the impending Afghan War along with the 2003 invasion of Iraq.
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