After rallying on the U.S. Fed’s 75-basis point hike in interest rates, markets sharply turned downward on Thursday. Fears of a recession spurred the selling. The session was simply ugly: the S&P closed -3.24%, the Nasdaq -4.08%, the Dow -2.41% below 30,000 and the TSX -3.1% to 19,004 in the biggest one-day drop in two years. All sectors were in the red, starting with energy on both sides of the border.<\/p>\n
In Toronto, Telus<\/a> slid nearly 6% after announcing it was buying Lifeworks<\/a>, whose shares soared over 66%. Other winners were Agnico Eagle Mines<\/a> up 4.92% and Argonaut Gold<\/a> at 5.21% as precious metals offered a rare bright spot.<\/p>\n In contrast, oil names such as Crescent Point<\/a> sank 6.51%, Baytex<\/a> lost 5.13% and Cenovus<\/a> fell 6.35%. WTI actually rose 1.5% to $117 though WCS lost over 2.5% to below $96. On Wall Street, the U.S. 10-year yield retreated to 3.24% and Bitcoin<\/a> lost another 3.8% to hover around $21,000. Newmont<\/a> rallied 3.24% as a rare gainer. Otherwise, most stocks were in the red, especially tech and travel: Apple<\/a> slid nearly 4%, AMD<\/a> lost 8.12%, Ford<\/a> fell 8.31% and Carnival<\/a> sank 11%.<\/p>\n 📱 Telus Corp (T-T)<\/a> -6% After rallying on the U.S. Fed’s 75-basis point hike in interest rates, markets sharply turned downward on Thursday. Fears of a recession spurred the selling. The session was simply ugly: the S&P closed -3.24%, the Nasdaq -4.08%, the Dow -2.41% […]<\/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":[9],"tags":[],"class_list":["post-282374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/282374","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=282374"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/282374\/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=282374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=282374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=282374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Life Works Inc. (LWRK-T)<\/a> +66%
\n⛏ Agnico-Eagle Mines (AEM-T)<\/a> +4.92%
\n🥇 Argonaut Gold (AR-T)<\/a> +5.21%
\n🛢 Crescent Point Energy Corp (CPG-T)<\/a> -6.51%
\n🛢 Baytex Energy Corp (BTE-T)<\/a> -5.13%
\n🛢 Cenovus Energy (CVE-T)<\/a> -6.35%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -3.8%
\n🥇 Newmont Goldcorp (NGT-T)<\/a> +3.24%
\n🍎 Apple (AAPL-Q)<\/a> -4%
\n💾 Advanced Micro Devices (AMD-Q)<\/a> -8.12%
\n🚘 Ford Motor (F-N)<\/a> -8.31%
\n🚢 Carnival Corp. (CCL-N)<\/a> -11%<\/p>\n","protected":false},"excerpt":{"rendered":"