Markets on both sides of the border extended last week’s sell-off, triggered by fears of an economic slowdown, hot inflation and a sharp rise in interest rates. On Monday, the the S&P closed -3.2% to fall below 4,000, the Nasdaq -4.29% and the Dow -1.99%. As materials and energy stocks slid well over 5%, the TSX fell 3.17% to 19,999. Many stocks touched 52-week lows and the Nasdaq returned to October 2020 levels. The VIX soared 16.5% to 35.19. The selling was indiscriminate and continued into the closing bell.<\/p>\n
Bellweather Apple<\/a> closed -3.32% though above the key support level of $150, AMD<\/a> tanked 9.42%, Microsoft<\/a> lost 3.69% and Marathon Oil<\/a> plunged 14% as oil took a beating. Among the few gainers was Newell Brands<\/a> up 7.92%. The U.S. 10-year yield dipped slightly but stayed above 3% while Bitcoin<\/a> sank 8.6% to $31,200.<\/p>\n Crude prices did no favours for Canadian stocks at WTI slid 6.7% to $101. Enbridge<\/a> closed -3.45%, Cenovus<\/a> -7.31% and Suncor<\/a> -5%. Further, Cameco<\/a> tanked 11% and Galaxy Digital plunged 26.31%. The Canadian dollar slipped to 76.9 cents against the USD to levels last seen since 2020. Amid the carnage there is talk of a market bottom and the peak of inflation looming.<\/p>\n 🍎 Apple (AAPL-Q)<\/a> -3.32% Markets on both sides of the border extended last week’s sell-off, triggered by fears of an economic slowdown, hot inflation and a sharp rise in interest rates. On Monday, the the S&P closed -3.2% to fall below 4,000, the Nasdaq […]<\/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-277226","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\/277226","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=277226"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/277226\/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=277226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=277226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=277226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Advanced Micro Devices (AMD-Q)<\/a> -9.42%
\nⓂ Microsoft (MSFT-Q)<\/a> -3.69%
\n🛢 Marathon Oil (MRO-N)<\/a> -14%
\n🗑 Newell Brands Inc (NWL-N)<\/a> +7.92%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -8.6%
\n🛢 Enbridge (ENB-T)<\/a> -3.45%
\n🛢 Cenovus Energy (CVE-T)<\/a> -7.31%
\n🛢 Suncor Energy Inc (SU-T)<\/a> -5%
\n⛏ Cameco Corporation (CCO-T)<\/a> -11%
\n🏛 Galaxy Digital -26.31%<\/p>\n","protected":false},"excerpt":{"rendered":"