Chips sell-off hits markets
Overnight selling of the semis stocks in Asia swept across New York and Toronto markets on Tuesday. There were sharp losses in the chipmakers, led by Nvidia at -4.13%, Intel -6.14% and Sandisk -13.64%. In contrast, GE Healthcare jumped 5.08% and IBM 5.04%. The S&P closed -1.44, the Nasdaq -2.21% and the Dow -0.09%. Bitcoin slid over 3% to US$62,400. The U.S. 10-year yield held just under 4.5%.
Toronto fared better by slipping 0.21% or 74 points. Staples and telcos led eight sectors higher, while materials lagged the most. Heavy hitters included Alimentation Couche-Tard, jumping 11.68%, TC Energy 1.88%, CNQ -1.57%, Hudbay Minerals -8.81% and Open Text 6.1% as several software names rebounded. Silver fell 5.4% to US$61.45, gold declined US$80 to US$4,110 and WTI crude -0.66% to US$4,110.
💾 NVIDIA Corporation (NVDA) -4.13%
💾 Intel (INTC) -6.14%
💾 Sandisk Corp (SNDK) -13.64%
👨⚕️ GE HealthCare Technologies Inc (GEHC) +5.08%
💾 IBM Common Stock (IBM) +5.04%
🅱 Bitcoin (BTCUSD) (BTC-USD) -3%
🍱 Alimentation Couche-Tard (ATD.TO) +11.68%
🛢 TC Energy (TRP.TO) +1.88%
🛢 Canadian Natural Rsrcs (CNQ.TO) -1.57%
⛏ Hudbay Minerals (HBM.TO) -8.81%
💾 Open Text (OTEX.TO) +6.1%
