Stockchase-logo
Track Stocks Watchlist
Top Picks Today
=iconClose Home All Opinions Top Picks Stocks Experts Top Experts Panic-proof Top 100 Stocks Monthly gems News
Watchlist Track Stocks
Top Picks Today
Home » Daily

Hawkish Powell comments roil markets

Allan Tong Posted On March 7, 2023
0
0
Shares
  • Share On Facebook
  • Tweet It

The U.S. Fed’s Jerome Powell announced Tuesday that he was willing to hike interest rates longer and deeper if necessary to tame inflation. it was no surprise when Powell said that economic data would inform his decisions going forward, but his hawkish tone sank stocks across the board on Wall and Bay streets. The S&P closed -1.53% to dip below 4,000, the Nasdaq -1.25% to 11,530, and the Dow -1.72% below 33,000.

Tesla shares changed the most hands and closed -3.15%. Other notable names: Bank of America -3.2%, Comcast -2.4%, Wells Fargo -4.68% and AMD up 1.17% as one of the few gainers. The U.S. 10-year yield actually held below 4% while Bitcoin declined 1.5% to $22,000.

The TSX shed 1.17%, faring slightly better than New York. All sectors were in the red, especially materials and energy. major movers: CNQ -2.2%, Athabasca Oil -4.26%, BlackBerry -11.74% after its quarter, Kinross Gold -4% and Meg Energy -3.95%. WTI slid nearly 4% to trade north of $77 while WCS sank over 5% to fall below $62.

🚗 Tesla Inc (TSLA-Q) -3.15%
🏛 Bank of America (BAC-N) -3.2%
📺 Comcast Corp (CMCSA-Q) -2.4%
🏛 Wells Fargo (WFC-N) -4.68%
💾 Advanced Micro Devices (AMD-Q) +1.17%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.5%
🛢 Canadian Natural Rsrcs (CNQ-T) -2.2%
🛢 Athabasca Oil Sands Corp (ATH-T) -4.26%
📱 BlackBerry (BB-T) -11.74%
🥇 Kinross Gold (K-T) -4%
🛢 MEG Energy Corp (MEG-T) -3.95%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Weekly 52-Week Low (or 52-Week High): TVE-T, EMA-T, GIB.A-T, CNR-T and More 52-Week Highs and Lows (Jul 30-Aug 05)
Melisa R. H. August 6, 2025
Most Anticipated Earnings: TSU-T, KEL-T and more Canadian Companies Reporting Earnings this Week (Aug 04-08)
Melisa R. H. August 4, 2025
BOC holds rate, TSX climbs
Read Next

BOC holds rate, TSX climbs

  • logo

    We’re fintech passionates that reinvest almost all our revenues into the development of Stockchase and Wealthica. We hope you enjoy Stockchase and join Premium!

  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2023)
      8.5
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2023)
  • Popular Posts

    • Weekly 52-Week Low (or 52-Week High): TVE-T, EMA-T, GIB.A-T, CNR-T and More 52-Week Highs and Lows (Jul 30-Aug 05)
    • Most Anticipated Earnings: TSU-T, KEL-T and more Canadian Companies Reporting Earnings this Week (Aug 04-08)
    • This Week's Stock Picks & BNN Top Picks Summary: LULU-Q, ANET-N and 20 Stock and 4 ETF Top Picks (Jul 25-31)
  • Stock Lists

    • Unraveling 15 of the Best Natural Gas Stocks: A Canada-USA...
      November 10, 2023
    • 13 Recession-Proof Stocks for Portfolio Safety
      October 26, 2023
    • The Ultimate Top Drone Stocks List for Sky-High Returns...
      October 25, 2023
    • Top Hotel Stocks to Buy for your Growth Portfolio
      October 12, 2023
    • Which Brookfield Stock to Buy? BAM vs BN: the Inspiring...
      October 9, 2023



  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search