The U.S. Fed’s Jay Powell spoke for six minutes on Friday morning and by the close the major American indices had plunged 3-4%. Powell said he would keep interest rates high to combat inflation, though didn’t put a number on the next hike in September. The S&P closed -3.37%, the Nasdaq -3.94% and the Dow -3.03%. All fell 3-4% for the week.<\/p>\n
Tech led the sell-off: Apple<\/a> -3.57%, Nvidia<\/a> -8.88%, AMD<\/a> -5.95%, and Alphabet<\/a> -5.2%. However, Electronic Arts<\/a> was a rare gainer, up. 3.57%. Meanwhile, Carnival<\/a> sank 5.17% and 3M<\/a> tanked 9.58%. The U.S. 10-year yield touched 3.032%, though Bitcoin<\/a> dropped 4.3% to $20,700.<\/p>\n The TSX’s losses were half of Wall Street’s. The TSX closed -1.48% on Friday and only -0.22% for the week, but fell below 20,000 again. All sectors were in the red, led by consumer staples and materials. Big movers were Barrick Gold<\/a> at -4.63%, and Kinross<\/a> -5.72%. As in the U.S., Canadian tech suffered serious losses. Open Text<\/a> finished -13.71%, Dye & Durham<\/a> -11.68% and Shopify<\/a> -4.84%. TD<\/a> was a rare gainer, up 0.94%.<\/p>\n 🍎 Apple (AAPL-Q)<\/a> -3.57% The U.S. Fed’s Jay Powell spoke for six minutes on Friday morning and by the close the major American indices had plunged 3-4%. Powell said he would keep interest rates high to combat inflation, though didn’t put a number 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-291464","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\/291464","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=291464"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/291464\/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=291464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=291464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=291464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Nvidia Corp (NVDA-Q)<\/a> -8.88%
\n💾 Advanced Micro Devices (AMD-Q)<\/a> -5.95%
\n🧮 Alphabet Inc. \/ Google (GOOG-Q)<\/a> -5.2%
\n🎮 Electronic Arts Inc (EA-Q)<\/a> +3.57%
\n🚢 Carnival Corp. (CCL-N)<\/a> -5.17%
\n💾 3M Co. (MMM-N)<\/a> -9.58%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -4.3%
\n🥇 Barrick Gold (ABX-T)<\/a> -4.63%
\n🥇 Kinross Gold (K-T)<\/a> -5.72%
\n💾 Open Text (OTEX-T)<\/a> -13.71%
\n💿 Dye & Durham (DND-T)<\/a> -11.68%
\n🛍 Shopify Inc. (SHOP-T)<\/a> -4.84%
\n🏛 Toronto Dominion (TD-T)<\/a> +0.94%<\/p>\n","protected":false},"excerpt":{"rendered":"