The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on Wall Street. The S&P closed -2.13%, the Nasdaq -2.55%, and the Dow -1.97% but stayed above 33,000.<\/p>\n
Consumer discretionary and tech were the worst-hit with Apple<\/a> sinking 2.29%, semis like Intel<\/a> down 4.35%, Netflix<\/a> falling over 6% and Amazon<\/a> slipping 3.77%. Also, Ford<\/a> lost 5.13% and Warner Bros. Discovery<\/a> sank 7.43%. The U.S. 10-year yield returned returned to 3% as Bitcoin<\/a> shed 2% but stayed above $21,000.<\/p>\n The TSX closed -0.81% and fell below 20,000. Only energy and materials were in the green. Exchanging the most hands were the lifecos as Manulife<\/a> fell 4.18% and Sun Life<\/a> slipped 1.77%. Also losing were auto-parts dealers Magna<\/a> at -6.49% and Linamar<\/a> -6.41%. However, Vermilion<\/a> jumped 5% and Birchcliff Energy<\/a> rallied 3.11%. Oil made the headlines as Iran and the West race to strike a deal that would flow Iran to sell oil again. However, OPEC+ said it would cut production in order to boost the flagging price.<\/p>\n 🍎 Apple (AAPL-Q)<\/a> -2.29% The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on […]<\/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-290787","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\/290787","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=290787"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/290787\/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=290787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=290787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=290787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Intel (INTC-Q)<\/a> -4.35%
\n📺 Netflix Inc. (NFLX-Q)<\/a> -6%
\n📦 Amazon.com (AMZN-Q)<\/a> -3.77%
\n🚘 Ford Motor (F-N)<\/a> -5.13%
\n📺 Warner Bros. Discovery (WBD-Q)<\/a> -7.43%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -2%
\n🏛 Manulife Financial (MFC-T)<\/a> -4.18%
\n🏛 Sun Life Financial Inc (SLF-T)<\/a> -1.77%
\n🚗 Magna Int’l. (A) (MG-T)<\/a> -6.49%
\n🚗 Linamar Corp (LNR-T)<\/a> -6.41%
\n🛢 Vermilion Energy Inc (VET-T)<\/a> +5%
\n🛢 Birchcliff Energy Ltd. (BIR-T)<\/a> +3.11%<\/p>\n","protected":false},"excerpt":{"rendered":"