Rising yields, falling stocks

Markets on both sides of the border slid Monday on fears that central banks won’t cut interest rates as quickly as expected. The U.S. 10-year yield climbed to 4.166% as red filled trading screens. Investor sentiment wasn’t helped by McDonald’s reporting weaker-than-expected sales, particularly in the war-plagued Middle East.

MCD shares fell 3.73%. Other key movers were Tesla at -3.65%, Ford -4.53% and Caterpillar jumping 2% to a record high after beating profits. Boeing‘s latest safety woes are misdrilled holes in its hapless 737 Max, which sent shares sinking 1.48%. Meanwhile, Bitcoin slipped 0.43% to under $42,400.

Canadian stocks fared even worse as the TSX sank nearly 1% to close below 20,900. All sectors were down, led by staples, tech and real estate. Major names: Enbridge -1.45%, Telus -1.83%, Nuvei 3.68%, Lithium Americas -7.99% and Ballard Power -6.61%. WTI crude, however, climbed 0.7% to nearly $73 a barrel.

🍟 McDonalds (MCD-N) -3.73%

🚗 Tesla Inc (TSLA-Q) -3.65%

🚘 Ford Motor (F-N) -4.53%

🏗 Caterpillar (CAT-N) +2%

🛫 Boeing (BA-N) -1.48%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.43%

🛢 Enbridge (ENB-T) -1.45%

📱 Telus Corp (T-T) -1.83%

💾 Nuvei Corp (NVEI-T) +3.68%

⛏ Lithium Americas Corp (LAC-T) -7.99%

🧬 Ballard Power Systems (BLDP-T) -6.61%