Tech slides in rotation
As if resuming Friday’s session, markets sold off tech names on Tuesday though much of the market was positive, suggesting a rotation. The Nasdaq closed -0.97%, but was well off the lows of the session. The S&P declined 0.26%, and the Dow added 0.17%. Major moves came from Apple, which fell 3.64% a day after unveiling its new Siri AI, Tesla tumbled 3%, Super Micro Computer slid 7.62%, Coherent cratered by 11.44%, though J M Smucker rallied 10.44%. The U.S. 10-year yield slipped by 4.518% while Bitcoin lost 2.3% to U$62,020.
In Toronto, the TSX gave back 0.19% as staples and real estate led seven sectors higher. Energy suffered major losses as did materials. Key names: CNQ -3.53%, Whitecap Resources -3.35%, Killam Apartment REIT 3.22% and Gildan 3.86%. Silver sank 4.2% to US$65.20, gold declined by US$70 to U$4,258 and WTI crude slid over 3% to US$88.50 after Trump announced that the war with Iran would end soon, but then vowed to retaliate against a strike by Iran.
🍎 Apple Inc (AAPL) -3.64%
🚗 Tesla Inc (TSLA) -3%
💾 Super Micro Computer (SMCI) -7.62%
🧬 Coherent, Inc. (COHR) -11.44%
🍭 J. M. Smuckers Co. (SJM) +10.44%
🅱 Bitcoin (BTCUSD) (BTC-USD) -2.3%
🛢 Canadian Natural Rsrcs (CNQ.TO) -3.53%
🛢 Whitecap Resources (WCP.TO) -3.35%
🏛 Killam Properties Inc (KMP.UN.TO) +3.22%
👕 Gildan Activewear Inc. (GIL.TO) +3.86%
