Mixed markets, more tech weakness

Tech’s slump continued to weaken U.S. markets on Wednesday as the Nasdaq sank 142 points or 0.67%. However, the S&P declined only 15 points and the Dow gained 16 to close just below 45,000. Major movers included Intel at -6.99%, Dell -4.97%, Target -6.33%, McKesson 3.85% and Analog Devices 6.26%. Bitcoin climbed nearly US$700 to US$114,245. Meanwhile, the 10-year yield slipped to 4.291%.

On Bay Street, sectors were mixed, but the TSX advanced 0.2%. Materials was the session’s biggest winner while discretionary and healthcare were the weakest areas. As mentioned, miners rallied with gold rising US$33 to US$3,349, lifting Barrick Gold by 3.67% and Agnico Eagle 3.45%. However, Cameco sank 4.5%, Lightspeed faded 4.54% and Restaurant Brands tumbled 4.17%. Finally, WTI crude rallied nearly 1.4% to US$63.20.