Tech leads sell-off
The selling continued on Wall Street, led once more by the AI trade. The Financial Times reported that Oracle has lost the backing for a US$10 million data centre, adding to the tech company’s long string of woes. Oracle sank 5.4% while Nvidia fell 3.81% and GE Vernova tumbled 10.5%. Similarly, Tesla skidded 4.62% and Vistra slid 7.77%. Tech losses dragged the Nasdaq down 1.81% on Wednesday while the S&P lost 1.16% and the Dow surrendered 0.47%. Bitcoin also struggled as it declined nearly US$2,000 to US$85,760. Meanwhile, the U.S. 10-year yield held around 4.159%.
The TSX performed better, basically flat after slipping 13 points. Seven sectors were positive, led by energy and materials, while financial led the losers. Major movers: Cargojet 6.26%, Baytex 4.58%, CNQ 2.21%, Toromont -5.64% and Transalta -5.4%. As Trump threatens what many consider an unprovoked war against Venezuela, WTI crude jumped over 3% to nearly US$57. Gold maintained its lofty highs at US $4,344 while silver reached record highs of US$66.35 after a 4.25% jump.
💻 Oracle (ORCL-N) -5.04%
💾 NVIDIA Corporation (NVDA-Q) -3.81%
🔌 GE Vernova (GEV-N) -10.5%
🚗 Tesla Inc (TSLA-Q) -4.62%
💡 Vistra (VST-N) -7.77%
🛫 Cargojet Inc (CJT-T) +6.26%
🛢 Baytex Energy Corp (BTE-T) +4.58%
🛢 Canadian Natural Rsrcs (CNQ-T) +2.21%
⚙ Toromont Industries (TIH-T) -5.64%
💡 Transalta Corp (TA-T) -5.4%
