The U.S. Fed delivered its much-anticipated press conference on Wednesday afternoon. Fed chief Jerome Powell surprised no one by holding interest rates, but disappointed some in dismissing a rate cut in March, as some had hoped. Markets climbed initially after his comment, but sharply faded into the close: the S&P -1.61%, the Nasdaq -2.23% and the Dow -0.82%. Despite weakness in stocks, the U.S. 10-year yield slipped below 4%. <\/p>\n\n\n\n
Major movers included Paramount Global<\/a> jumping 6.98% after a takeover bid. Earnings informed a number of names, including Rockwell Automation<\/a> which tumbled 17.29%. Elsewhere, Alphabet<\/a> (A class) closed -7.37%, AMD<\/a> -2.77% and Lululemon<\/a> -5.61%. Big tech had a rough session all around as Bitcoin<\/a> sank 2.4% to US$42,500.<\/p>\n\n\n\n The TSX fared only mildly better as it surrendered 0.81% to retreat to nearly 21,000. All sectors were down, led by staples, financials and energy. WTI fell 2.6% to $75.80. Major movers were Celestica<\/a> at 4.26%, Orla Mining<\/a> -4.55%, First Quantum Minerals<\/a> -4.69% and Tilray<\/a> -4.3%. Volatility spiked after Powell’s comments and may extend into tomorrow, given market reaction to past Fed announcements.<\/p>\n\n\n\n 🎞 Paramount Global\u00a0(PARA-Q)<\/a> +6.98%<\/p>\n\n\n\n 🧬 Rockwell Automation Inc.\u00a0(ROK-N)<\/a> -17.29%<\/p>\n\n\n\n 🧮 Alphabet Inc\u00a0(GOOG-Q)<\/a> -7.37%<\/p>\n\n\n\n 💾 Advanced Micro Devices\u00a0(AMD-Q)<\/a> -2.77%<\/p>\n\n\n\n 🛍 LuLulemon Athletica (US)\u00a0(LULU-Q)<\/a> -5.61%<\/p>\n\n\n\n 🅱 Bitcoin (BTCUSD)\u00a0(CRYPTO:BTC)<\/a> -2.4%<\/p>\n\n\n\n 🧬 Celestica Inc\u00a0(CLS-T)<\/a> +4.26%<\/p>\n\n\n\n ⛏ Orla Mining\u00a0(OLA-T)<\/a> -4.55%<\/p>\n\n\n\n ⛏ First Quantum Minerals\u00a0(FM-T)<\/a> -4.69%<\/p>\n\n\n\n