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    Hawkish Fed pressures stocks, oil weakens

    Allan Tong Posted On April 5, 2022
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    On Tuesday, Hawkish comments by a member of the U.S. Fed triggered a sell-off in U.S. stocks, particularly tech. As the U.S. 10-year yield climbed to 2.558%, American stocks sold into the close: the S&P -1.25%, the Nasdaq -2.26% and the Dow -0.8%.

    Infrastructure and healthcare saw some gains: UnitedHealth up 1.52%, American Tower 1.97% and Crown Castle 2.13%. However, tech stocks were the biggest losers: AMD -3.36%, Affirm Holdings -8.09% and Baidu -5.97%. Even Bitcoin retreated, shedding 0.8% to slip below $46,000.

    Despite the U.S. and Europe considering new sanctions against Russia, oil actually slid. WTI fell 3% to $100 and WCS slid to $84.50. The TSX began Tuesday making a new intra-day high, but steadily sold off to shed 0.71% below 22,000. Among the big gainers were Dollarama up 3.25%, Loblaw 3.06% and CGI 2.59%. Losing ground were Crescent Point Energy at -5.88%, Baytex Energy -3.51% and Bombardier -3.4%. Staples and telcos were the only TSX sectors in the green.

    👨‍⚕️ UnitedHealth Group Inc (UNH-N) +1.52%
    📡 American Tower (AMT-N) +1.97%
    🏛 Crown Castle International (CCI-N) +2.13%
    💾 Advanced Micro Devices (AMD-Q) -3.36%
    🏛 Affirm Holdings (AFRM-Q) -8.09%
    🈲 Baidu.com (BIDU-Q) -5.97%
    🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.8%
    🛒 Dollarama Inc. (DOL-T) +3.25%
    🛒 Loblaw Companies Ltd (L-T) +3.06%
    👨‍💼 CGI Group (A) (GIB.A-T) +2.59%
    🛢 Crescent Point Energy Corp (CPG-T) -5.88%
    🛢 Baytex Energy Corp (BTE-T) -3.51%
    🚂 Bombardier Inc (B) (BBD.B-T) -3.4%

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