As the US, Israel and Iran dig in their heels in the ongoing war and oil can’t pass through the Strait of Hormuz, markets tumbled on Friday to cap a losing week. The S&P closed -1.51% on Friday, the Nasdaq -2.01% (and slightly more for the week), and the Dow -0.96%. Over the week, the S&P surrendered 1.9% and the Dow shed more than 2%. The TSX fell 575 points or 1.81% and lost 3.76% for the week. WTI rose 2.78% to US$98.80, stoking inflation fears and pushing the U.S. 10-year yield to 4.382% as a US Fed rate hike enters the conversation. Meanwhile, materials were the worst performer on Bay Street after gold slid over 3% to US$4,505 and silver tanked 6.3% to US$68.10.<\/p>\n\n\n\n
On Bay Street, only staples saw any gains. In contrast, healthcare and tech joined materials as one of the 10 sectors that sank on Friday. Key names: CNQ<\/a> -3.04% as the most active, Denison Mines<\/a> -4.97%, B2Gold<\/a> -6.75%, Lithium Americas<\/a> -7.59% and Vizsla<\/a> -6.85%. In New York: Nvidia<\/a> -3.28%, Intel<\/a> -5%, Vistra<\/a> -12.76% and Constellation Energy<\/a> -10.9%. Super Micro Computer<\/a> shares lost exactly a third of their value after its co-founder was arrested for smuggling Nvidia<\/a> AI chips into China. Meanwhile, Bitcoin<\/a> sank below US$70,000 after shedding\u00a0US$600.<\/p>\n\n\n\n 🛢 Canadian Natural Rsrcs (CNQ-T)<\/a> -3.04%<\/p>\n\n\n\n ⛏ Denison Mines Corp (DML-T)<\/a> -4.97%<\/p>\n\n\n\n 🥇 B2Gold Corp. (BTO-T)<\/a> -6.75%<\/p>\n\n\n\n ⛓ Lithium Americas Corp (LAC-T)<\/a> -7.59%<\/p>\n\n\n\n ⛏ Vizsla Resources (VZLA-X)<\/a> -6.85%<\/p>\n\n\n\n 💾 NVIDIA Corporation (NVDA-Q)<\/a> -3.28%<\/p>\n\n\n\n 💾 Intel (INTC-Q)<\/a> -5%<\/p>\n\n\n\n