On Wednesday, U.S. markets tanked after heavyweights Alphabet and Tesla issued weak earnings. They closed -5.03% and -12.33% respectively as other Magnificent 7 names such as Meta finished -5.61% and Nvidia -6.8%. Among the few gainers was AT&T, rallying 5.22%. The main indexes had their worst showing in a year, 2022 for the Nasdaq: S&P -2.31%, the Dow -1.25% or over 500 points to tumble below 40,000, and the Nasdaq -3.64% or over 650 points. The U.S. 10-year yield inched up to 4.285% as Bitcoin stayed flat at US$65,940.<\/p>\n\n\n\n
As expected, the Bank of Canada cut its key interest rate by 25 basis point to 4.5%. The decision helped limit the TSX’s losses to 0.76%, though healthcare was particularly beaten in the sell-off. Bausch Health tanked over 23% on unconfirmed reports of a bankruptcy filing (the company denies it). Meanwhile, tech names Celestica closed -7.49% and Shopify -5.21%, TransAlta rallied 4.49% and Manulife -1.47%. WTI gained half-a-dollar to US$77.45 as Gold sank US$41 to trade below US$2,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
On Wednesday, U.S. markets tanked after heavyweights Alphabet and Tesla issued weak earnings. They closed -5.03% and -12.33% respectively as other Magnificent 7 names such as Meta finished -5.61% and Nvidia -6.8%. Among the few gainers was AT&T, rallying 5.22%. […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"closed","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-341841","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\/341841","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=341841"}],"version-history":[{"count":2,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/341841\/revisions"}],"predecessor-version":[{"id":341846,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/341841\/revisions\/341846"}],"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=341841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=341841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=341841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}