{"id":213632,"date":"2021-02-23T18:41:39","date_gmt":"2021-02-23T23:41:39","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=213632"},"modified":"2021-02-24T07:28:19","modified_gmt":"2021-02-24T12:28:19","slug":"tech-sell-off-continues-but-minimizes-losses","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tech-sell-off-continues-but-minimizes-losses\/","title":{"rendered":"Tech sell-off continues, but minimizes losses"},"content":{"rendered":"<hr \/>\n<table cellpadding=\"10\" align=\"center\">\n<tbody style=\"padding: 10px; font-family: Helvetica, Arial;\">\n<tr align=\"center\">\n<td align=\"center\"><center>This week, you missed Past Top Picks comments by <a class=\"expert-name\" href=\"https:\/\/stockchase.com\/expert\/view\/1344\/Stephen-Takacsy-B-Eng-MBA\">Stephen Takacsy, B.<\/a>, including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/company\/view\/3824\/SIA-T\"><span class=\"company-name\">Sienna Senior Living Inc<\/span><\/a> (<strong>A Top Pick Jan 28\/19, Up 11%<\/strong>) <strong><a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-text\">Get Premium<\/a> to receive all past top picks opinions a few hours before market open.<\/strong><br \/>\n<a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-image\"><img decoding=\"async\" class=\"alignnone size-full wp-image-123205\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2019\/11\/premium-button.png\" alt=\"Get Premium\" width=\"289\" height=\"48\" \/><\/a><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p>The rotation out of high-flying tech stocks into cyclicals continued Tuesday as the Nasdaq plunged 2% in the morning. However, a late-day rally lifted the S&amp;P and Dow barely into positive territory and limited the Nasdaq&#8217;s losses to -0.5%. All eyes were on the US 10-year yield, which held at 1.355%. Also, U.S. Fed Chair Jerome <a href=\"https:\/\/www.cnbc.com\/2021\/02\/23\/powell-says-inflation-is-still-soft-and-the-fed-is-committed-to-current-policy-stance.html\" target=\"_blank\" rel=\"noopener\">Powell<\/a>&#8216;s comments helped about &#8220;soft&#8221; inflation helped calm investors.<\/p>\n<p>FAANG names dove early on, but <a href=\"https:\/\/stockchase.com\/company\/view\/4\/AAPL-Q\">Apple<\/a> closed only -0.11%. In fact, <a href=\"https:\/\/stockchase.com\/company\/view\/4277\/FB-Q\">Facebook<\/a> rose 2.12% and <a href=\"https:\/\/stockchase.com\/company\/view\/4686\/TWTR-N\">Twitter<\/a> popped 3.8%. On the Dow, financials and energy continued to rally, with <a href=\"https:\/\/stockchase.com\/company\/view\/3189\/V-N\">Visa<\/a> climbing 1.82%. <a href=\"https:\/\/stockchase.com\/company\/view\/1515\/MRO-N\">Marathon Oil<\/a> soared 9.41% and <a href=\"https:\/\/stockchase.com\/company\/view\/3564\/WYNN-Q\">Wynne Resorts<\/a> shot up 7.68% to make an intraday one-year high. Gold was flat, but <a href=\"https:\/\/stockchase.com\/company\/view\/6312\/QBTCU-T\">Bitcoin<\/a> continued to plunge, sliding nearly 11%.<\/p>\n<p>Though the price of WTI held and WCS increased over 2%, the TSX slipped 0.47% though it closed well off the day&#8217;s lows. As in past days, energy and banks rose. <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point<\/a> advanced 2.46% and banks rallied to kick off their earnings weeks. <a href=\"https:\/\/stockchase.com\/company\/view\/1083\/RY-T\">Royal Bank<\/a> climbed 1% to make a new high while <a href=\"https:\/\/stockchase.com\/company\/view\/161\/BMO-T\">BMO<\/a> popped 3% and <a href=\"https:\/\/stockchase.com\/company\/view\/169\/BNS-T\">BNS<\/a> by 2.8% after both <a href=\"https:\/\/finance.yahoo.com\/news\/scotiabank-bmo-top-estimates-loan-130511789.html\" target=\"_blank\" rel=\"noopener\">reported<\/a> strong quarterlies. In contrast, cannabis names retreated with <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria<\/a> closing -6.85%. <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify<\/a> slid 6% after issuing a round of shares.<\/p>\n<p>&#x1f34e; <a href=\"https:\/\/stockchase.com\/company\/view\/4\/AAPL-Q\">Apple<\/a> -0.11%<br \/>\n&#x1f575;&#xfe0f;&#x200d;&#x2642;&#xfe0f; <a href=\"https:\/\/stockchase.com\/company\/view\/4277\/FB-Q\">Facebook<\/a> +2.12%<br \/>\n&#x1f426; <a href=\"https:\/\/stockchase.com\/company\/view\/4686\/TWTR-N\">Twitter, Inc<\/a> +3.8%<br \/>\n&#x1f4b3; <a href=\"https:\/\/stockchase.com\/company\/view\/3189\/V-N\">Visa Inc.<\/a> +1.82%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1515\/MRO-N\">Marathon Oil<\/a> +9.41%<br \/>\n&#x1f3e2; <a href=\"https:\/\/stockchase.com\/company\/view\/3564\/WYNN-Q\">Wynne Resorts Ltd.<\/a> +7.68%<br \/>\n&#x1f171; <a href=\"https:\/\/stockchase.com\/company\/view\/6312\/QBTCU-T\">The Bitcoin Fund<\/a> -11%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point Energy Corp<\/a> +2.46%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/1083\/RY-T\">Royal Bank<\/a> +1%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/161\/BMO-T\">Bank of Montreal<\/a> +3%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/169\/BNS-T\">Bank of Nova Scotia<\/a> +2.8%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5210\/APHA-T\">Aphria Inc<\/a> -6.85%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify Inc.<\/a> -6%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Stephen Takacsy, B., including Sienna Senior Living Inc (A Top Pick Jan 28\/19, Up 11%) Get Premium to receive all past top picks opinions a few hours before market open. The [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-213632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/213632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=213632"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/213632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=213632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=213632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=213632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}