Markets retreat after recent gains
Wednesday saw markets in Toronto and New York give back recent gains. The TSX closed -0.4% but stayed above 20,000 as only materials showed any real gain, tech was flat and consumer staples led the rest of the sectors downward.
Enbridge shares changed the most hands and declined 0.38%. Major movers also included Dundee Precious Metals which jumped 11.39%, MTY Food Group up 6.13%, Algoma Steel added 5.06% though Wesdome Gold Mines sank 16.73%.
On Wall Street, disappointing December retail sales figures raised recessionary fears which also dampened market sentiment. The S&P closed -1.56%, the Nasdaq -1.24%, and the Dow -1.81%. Tesla traded the most hands, but sank 2%. The Bank of America finished -2.32%, Intel -2.67%, but Moderna rallied 3.32% and Seagate 3.04%. The U.S. 10-year yield hovered around 3.53% while Bitcoin slipped 1.8% to $20,700.
🛢 Enbridge (ENB-T) -0.38%
⛏ Dundee Precious Metals Inc. (DPM-T) +11.39%
🥫 MTY Food Group (MTY-T) +6.13%
⛓ Algoma Steel Group Inc (ASTL-T) +5.06%
⛏ Wesdome Gold Mines Ltd. (WDO-T) -16.73%
🚗 Tesla Motors Inc (TSLA-Q) -2%
🏛 Bank of America (BAC-N) -2.32%
💾 Intel (INTC-Q) -2.67%
💉 Moderna (MRNA-Q) +3.32%
💾 Seagate Technology (STX-Q) +3.04%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.08%
