Yields rise, stocks slide

Wednesday saw broad-based selling on both sides of the border as yields climbed. The U.S. 10-year inched up to 4.614% as the S&P closed -0.59%, the Nasdaq -0.43% to tumble below 17,000, and the Dow -0.89%.

Key movers included American Airlines which tanked 13.58%, AMD which slid 3.3% and Constellation Energy which sank 4.86%. Marathon, however, rallied 8.36%, but Salesforce reported a miss after the closing bell and CRM shares slid 11% after hours. Bitcoin ended the day -1.6% to $67,250.

Bank earnings highlighted Bay Street. National Bank reported and was rewarded with a 2.55% rise, but Bank of Montreal was punished 8.86%. Elsewhere, Suncor closed the day -1.93% and Manulife -1.79%. All TSX sectors were negative and the Canadian index gave back 1.65% to close below 21,900. Gold retreated 0.85% to US$2,335 while WTI slid 1% to US$79 a barrel.

🛫 American Airlines Group (AAL-Q) -13.58%

💾 Advanced Micro Devices (AMD-Q) -3.3%

💡 Constellation Energy (CEG-Q) -4.86%

🥇 Marathon Gold Corp (MOZ-T) +8.36%

💨 SalesForce.com Inc. (CRM-N) -11%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.6%

🏛 Bank of Montreal (BMO-T) -8.86%

🛢 Suncor Energy Inc (SU-T) -1.93%

🏛 Manulife Financial (MFC-T) -1.79%