The U.S. 10-year treasury yield topped 4.9% on Wednesday, a 16-year high. As a result, stocks slid across the board. The S&P closed -1.06%, the Nasdaq -1.62% and the Dow -0.98%. <\/p>\n\n\n\n
Notable names were Tesla<\/a>, closing -4.78%, Nvidia<\/a> -3.96%, and Albemarle<\/a> -9.79%. Airlines took a hit as American<\/a> sank 4.88% and United<\/a> slid 9.67%. Meanwhile, Bitcoin<\/a> edged up by 0.4% to $28,300.<\/p>\n\n\n\n Canadian equities didn’t fare much better. The TSX declined 1.23% as all sectors except energy lost ground. Staples, financials and industrials led the sell-off. Major movers were Royal Bank<\/a> at -1.63%, Shopify<\/a> -2.02%, Algonquin Power<\/a> -4.62% and CAE<\/a> -4.72%. WTI crude advanced 1.7% to over $88 a barrel.<\/p>\n\n\n\n 🚗 Tesla Inc\u00a0(TSLA-Q)<\/a> -4.78%<\/p>\n\n\n\n 💾 NVIDIA Corporation\u00a0(NVDA-Q)<\/a> -3.96%<\/p>\n\n\n\n ⛏ Albemarle Corp\u00a0(ALB-N)<\/a> -9.79%<\/p>\n\n\n\n 🛫 American Airlines Group\u00a0(AAL-Q)<\/a> -4.88%<\/p>\n\n\n\n 🛫 United Airlines Holdings\u00a0(UAL-Q)<\/a> -9.67%<\/p>\n\n\n\n 🅱 Bitcoin (BTCUSD)\u00a0(CRYPTO:BTC)<\/a> +0.4%<\/p>\n\n\n\n 🏛 Royal Bank\u00a0(RY-T)<\/a> -1.63%<\/p>\n\n\n\n 🛍 Shopify Inc.\u00a0(SHOP-T)<\/a> -2.02%<\/p>\n\n\n\n 💡 Algonquin Power & Utilities Corp\u00a0(AQN-T)<\/a> -4.62%<\/p>\n\n\n\n