Stocks retreat on economic worries
Stocks modestly declined Tuesday after recent gains. Investor sentiment was weighed by worry over the wider economy, coming a day after OPEC+ surprisingly slashed oil production to trigger inflationary fears and thoughts of a hawkish U.S. Fed. The price of WTI itself was flat, though the TSX closed -0.26%. Energy stocks lagged, while materials and telcos rallied.
Marathon Gold soared 10% and Mag Silver jumped 6.55%. However, Suncor closed -1.69%, Slate Office REIT -6.11% and Dye & Durham -5.34%.
The Wall Street indices shed 0.5-0.6%. Major movers included ServiceNow up 2.57%, Electronic Arts 3.15%, the Bank of America -2.13%, Micro -3.93% and Keycorp 3.04%. Bitcoin added $600 to trade around $28,200 while the U.S. 10-year yield was at 3.346%.
🥇 Marathon Gold Corp (MOZ-T) +10%
🥈 Mag Silver Corp (MAG-T) +6.55%
🛢 Suncor Energy Inc (SU-T) -1.69%
🏛 Slate Office REIT (SOT.UN-T) -6.11%
💾 Dye & Durham (DND-T) -5.34%
💿 Servicenow (NOW-N) +2.57%
💾 Electronic Arts Inc (EA-Q) +3.15%
🏛 Bank of America (BAC-N) -2.13%
🏛 Keycorp (KEY-N) -3.04%
