North American markets ended the day on a low note this Friday. The TSX closed -1.15% to 20,791, the S&P 500 -1.64% to 4,108, and the Nasdaq -2.47% to 12,013. This doesn\u2019t quite wipe out the gains of yesterday for the Nasdaq but it is down -0.8% for the week. The S&P 500 is also down almost a full percent for the week. The TSX is the only one finding a slight gain this week at 0.4%.<\/p>\n
The technology, financials, and materials sectors were the ones driving the TSX lower today. The tech sector in particular fell substantially, down 5.13%. Shopify<\/a> was the most influential loser with a loss of 11.18%. YTD this translates to a 74% drop. BRP Inc<\/a> fell 10%. The company said that while demand for their product remain strong, supply chain challenges weighted on growth in the latest quarter. West Fraser Timber<\/a> shares climbed 5.50% after the company announced it plans to buyback nearly 12 million shares at $97 a share.<\/p>\n Tesla<\/a> shares slid 9.20% after CEO Elon Musk announced having a \u201csuper bad feeling\u201d about the economy. He reportedly plans to cut 10% of the company\u2019s workforce. His proposed deal to buy Twitter<\/a> cleared a regulatory hurdle today. The social network\u2019s shares rose 0.58%. Other big movers of the day on US markets were Intuit<\/a> (-4.20%), American Airlines<\/a> (-7.10%), and Northrop Grumman<\/a> (+3.35%).<\/p>\n 🛍 Shopify<\/a> -11.18%<\/p>\n ❄️ BRP Inc<\/a> -10%<\/p>\n 🪵 West Fraser Timber<\/a> +5.50%<\/p>\n 🚗 Tesla<\/a> -9.20%<\/p>\n 🐥 Twitter<\/a> +0.58%<\/p>\n 💸 Intuit<\/a> -4.20%<\/p>\n