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    Tech pressures markets

    Allan Tong Posted On August 9, 2022
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    Tuesday saw tech stocks on both sides of the border weigh on markets. The TSX retreated 0.46% due to weakness in consumer staples and tech, though materials and utilities were in the green.

    The latest earnings sank Nuvei by 21.44% and Bausch Health by 10.67%. Cannabis names gave back Monday’s big gains. Cronos slid nearly 14% and Canopy surrendered 12.32%. Though crude oil was flat with WTI at $90.50, Meg Energy rallied 4.36%. Elsewhere, Hudbay Minerals rallied 4.11%.

    In New York, the S&P closed -0.42%, the Nasdaq -1.19% and the Dow -0.18%. Here too tech suffered woes as the semiconductor stocks continued to fall. Intel finished -2.43% and AMD -4.53%. Meanwhile, Ford closed -3.74%. In contrast, Valero Energy rose 4% while Nielsen Holdings soared 21.18% after a buyout deal of the TV ratings company was reached. Bitcoin sank 3.5% to $23,100.

    💾 Nuvei Corp (NVEI-T) -21.44%
    👨‍⚕️ Bausch Health Companies Inc. (BHC-T) -10.67%
    🌿 Cronos Group Inc (CRON-T) -14%
    🌿 Canopy Growth Corp. (WEED-T) -12.32%
    🛢 MEG Energy Corp (MEG-T) +4.36%
    ⛏ Hudbay Minerals Inc. (HBM-T) +4.11%
    💾 Intel (INTC-Q) -2.43%
    💾 Advanced Micro Devices (AMD-Q) -4.53%
    🚘 Ford Motor (F-N) -3.74%
    🛢 Valero Energy Corp (VLO-N) +4%
    👨‍💼 Nielsen Holdings (NLSN-N) +21.18%
    🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -3.5%

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