{"id":217988,"date":"2021-03-23T18:19:43","date_gmt":"2021-03-23T22:19:43","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=217988"},"modified":"2021-03-24T08:30:31","modified_gmt":"2021-03-24T12:30:31","slug":"stocks-slide-on-german-lockdown-and-fears-of-tax-hikes","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/stocks-slide-on-german-lockdown-and-fears-of-tax-hikes\/","title":{"rendered":"Stocks slide on German lockdown and fears of tax hikes"},"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\/137\/Josef-Schachter\">Josef Schachter<\/a>, including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/HWO-T\"><span class=\"company-name\">High Arctic Energy Services Inc<\/span><\/a> (<strong>A Top Pick Mar 28\/19, Down 80%<\/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>Exactly a year after the market bottom, markets fell Tuesday triggered by Germany extending its lockdown by three weeks as well as fears that Washington may hike American taxes to pay for stimulus and relief spending. The sell-off hit tech and recovery stocks alike and for once did not correlate with an increase with the U.S. Treasury 10-year yield, which slipped nearly 5% to 1.6188%. The TSX closed -0.77%, the Dow -0\/94%, the S&amp;P -0.77% and the Nasdaq -1.12%.<\/p>\n<p>Industrials, financials and energy were hammered on the American exchanges. Dow fell 4.36% and <a href=\"https:\/\/stockchase.com\/BA-N\">Boeing<\/a> dove 4.14%. Travel stocks slid, such as <a href=\"https:\/\/stockchase.com\/CCL-N\">Carnival<\/a> by 7.82% and <a href=\"https:\/\/stockchase.com\/AAL-Q\">American Airlines<\/a> by 6.57%. Elsewhere, <a href=\"https:\/\/stockchase.com\/F-N\">Ford<\/a> skidded 5%, <a href=\"https:\/\/stockchase.com\/AXP-N\">American Express<\/a> lost 2.73% and <a href=\"https:\/\/stockchase.com\/MRO-N\">Marathon Oil<\/a> sank 6.14%. <a href=\"https:\/\/stockchase.com\/DG-N\">Dollar General<\/a> was a rare gainer, climbing 1.62%. Despite tech&#8217;s losses, some named gained modestly, such as <a href=\"https:\/\/stockchase.com\/ADBE-Q\">Adobe<\/a> inching up 1.72%. Germany&#8217;s extended lockdown made investors question the delay in Europe&#8217;s recovery just as vaccinations in the U.S., U.K. and even Canada are picking up steam.<\/p>\n<p>Europe&#8217;s woes pushed the price of WTI down 6.5% below $58\/barrel while WCS plunged 7.5% to $47. Naturally, energy was the big laggard on the TSX along with materials. <a href=\"https:\/\/stockchase.com\/MEG-T\">Meg Energy<\/a> tumbled over 8% and <a href=\"https:\/\/stockchase.com\/SU-T\">Suncor<\/a> more than 5%. <a href=\"https:\/\/stockchase.com\/LUN-T\">Lundin Mining<\/a> slid 4.59% and <a href=\"https:\/\/stockchase.com\/TECK.B-T\">Teck Resources<\/a> surrendered 6.72%. Like its American counterpart, <a href=\"https:\/\/stockchase.com\/DOL-T\">Dollarama<\/a> was a rare gainer, up 1.65%. <a href=\"https:\/\/stockchase.com\/WN-T\">Weston<\/a> popped 5.36% after the billionaire family <a href=\"https:\/\/finance.yahoo.com\/news\/billionaire-westons-canada-sell-namesake-121619867.html\" target=\"_blank\" rel=\"noopener\">announced<\/a> it was selling its historic bakery division. The news benefited the other part of the Weston empire, <a href=\"https:\/\/stockchase.com\/L-T\">Loblaw<\/a>, which rallied 3.5%. Meawhile, the price of gold declined by 0.7% and <a href=\"https:\/\/stockchase.com\/QBTC.U-T\">Bitcoin<\/a> fell 1.73%.<\/p>\n<p>&#x1f6eb; <a href=\"https:\/\/stockchase.com\/BA-N\">Boeing<\/a> -4.14%<br \/>\n&#x1f6a2; <a href=\"https:\/\/stockchase.com\/CCL-N\">Carnival Corp.<\/a> -7.82%<br \/>\n&#x1f6eb; <a href=\"https:\/\/stockchase.com\/AAL-Q\">American Airlines Group<\/a> -6.57%<br \/>\n&#x1f69b; <a href=\"https:\/\/stockchase.com\/F-N\">Ford Motor<\/a> -5%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/AXP-N\">American Express<\/a> -2.73%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/MRO-N\">Marathon Oil<\/a> -6.14%<br \/>\n&#x1f6d2; <a href=\"https:\/\/stockchase.com\/DG-N\">Dollar General Corp.<\/a> +1.62%<br \/>\n&#x1f4be; <a href=\"https:\/\/stockchase.com\/ADBE-Q\">Adobe Systems<\/a> +1.72%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/MEG-T\">MEG Energy Corp<\/a> -8%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/SU-T\">Suncor Energy Inc<\/a> -5%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/LUN-T\">Lundin Mining Corp.<\/a> -4.59%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/TECK.B-T\">Teck Resources Ltd. (B)<\/a> -6.72%<br \/>\n&#x1f6d2; <a href=\"https:\/\/stockchase.com\/DOL-T\">Dollarama Inc.<\/a> +1.65%<br \/>\n&#x1f69a; <a href=\"https:\/\/stockchase.com\/WN-T\">George Weston Ltd.<\/a> +5.36%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/L-T\">Loblaw Companies Ltd<\/a> +3.5%<br \/>\n&#x1f171; <a href=\"https:\/\/stockchase.com\/QBTC.U-T\">The Bitcoin Fund<\/a> -1.73%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Josef Schachter, including High Arctic Energy Services Inc (A Top Pick Mar 28\/19, Down 80%) Get Premium to receive all past top picks opinions a few hours before market open. Exactly [&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-217988","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\/217988","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=217988"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/217988\/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=217988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=217988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=217988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}