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Stockhouse @ the Bell: Markets slide on inflation fears

Stockhouse Editorial
1 Comment| April 6, 2022

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As investors worried over the likelihood of aggressive policy tightening to tackle inflation, Canada’s main stock index fell on Wednesday, with technology and financial shares leading declines. Canada’s federal budget is due for release on Thursday and could include increased spending, adding to inflation pressures. The health care and utilities markets moved higher.

A combination of interest rate hikes and a rapid balance sheet runoff sparked losses on Wall Street, extending losses from the previous session, ahead of the Federal Open Market Committee minutes. The NASDAQ gave up more than 2% as tech stocks extended their selloff over aggressive actions by the Federal Reserve to fight inflation. High-growth stocks with valuations pressured by higher bond yields bore the brunt as the benchmark 10-year yield hit a three-year high.

Today in the Markets

TSX 21,788.60 -142.23 Click to enlarge
TSXV 880.88 -10.35 Click to enlarge
CSE 423.93 -11.32 Click to enlarge
DJIA 34,496.81 -144.67 Click to enlarge
NASDAQ 13,888.82 -315.35 Click to enlarge
S&P 500 4,481.15 -43.97 Click to enlarge

The Canadian dollar traded for 80.09 cents US compared to 80.52 cents US on Tuesday.

Crude oil prices were down 2.14 to $199.82.

The price of gold was up 7.13 to $1,927.66.

In world markets, the Nikkei was down 437.68 points to at 27,350.30, the Hang Seng was down 421.79 points to 22,080.52, the FTSE was down 43.91 points to 7,569.81, and the DAX was down 299.84 points to 14,124.52.

Top 10 Bullboards:

Company Ticker Views
Theralase Technologies Inc. V.TLT 3538
Tilray Brands Inc. TLRY 2012
Electra Battery Materials V.ELBM 1722
StageZero Life Sciences Ltd T.SZLS 1606
Baytex Energy Corp T.BTE 1493
Datametrex AI Ltd V.DM 1410
Xebec Adsorption Inc T.XBC 1191
HPQ-Silicon Resources Inc V.HPQ 1099
Critical Elements Lithium Corp V.CRE 895
New Found Gold V.NFG 892

Today in the News:

Westhaven Gold Corp. | Westhaven Drills 23.03 Metres of 37.24 G/T Gold and 209.52 G/T Silver, Including 1.12 Metres of 294 G/T Gold and 2,110 G/T Silver at the FMN Zone, Shovelnose Gold Property
Banxa Holdings Inc. | Banxa Announces Upcoming Conference Participation
K9 Gold Corp. | K9 Gold Announces Private Placement to Continue Drilling at Stony Lake
Surge Battery Metals Inc | Surge Battery Metals Returns up to 5,120 ppm Lithium from Geochem Surveys on its 100% owned Nevada North Project
Orford Mining Corp. | Orford Mining Provides Update on Optioned Globex Joutel Property
Monarch Mining Inc. | Monarch Mining Corporation Closes Upsized C$14.4 Million Private Placement of Units and Alamos Gold Files Early Warning Report
Cybin Inc. | Cybin to Present at the Benzinga Psychedelics Capital Conference in Miami on April 19, 2022
Brascan Gold | Brascan Gold to Acquire Seven (7) Gold Properties in Newfoundland
Anfield Energy Inc. | Anfield Energy Takes Significant Steps to Advance Velvet-Wood Uranium and Vanadium Project
HIRE Technologies Inc. | HIRE Technologies Provides Commentary on Valuations and Transactions
Nextech AR Solutions Corp | Nextech AR Expands 3D Patent Portfolio Files Four Pivotal Non-Provisional Utility Patents
Fabled Copper | Fabled Copper Samples 20.10 meters grading 0.34% Copper, and values as high as 13.05% Copper on Neil Vein / Breccia
AM Resoures Corp. | AM Resources announces closing of first $869,500 of a maximum $2 million private placement
Noble Mineral Exploration Inc. | Noble Completes Acquisition of Nagagami Claims near Hearst, Ontario
CULT Food Science Corp. | CULT Food Science Portfolio Company Mogale Meat Produces First Cultivated Chicken in Africa
Orford Mining Corp. | Orford $9 million 2022 Exploration Program - Focusing on High Grade Gold and Nickel Exploration Projects
Else Nutrition Holdings Inc. | Big Y, One of the Largest Supermarket Chains in the Northeast, to Sell Else Kids Nutrition Products
i-80 Gold Corp. | i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek
Max Resource Corp. | Max Resource Reports New High-Grade Copper-Silver Discovery at URU
Falcon Gold Corp | Falcon Increases Drill Program Up to 2,000 Meters at Central Canada Site, Atikokan Ontario
Graph Blockchain Inc. | Graph Blockchain and Ronaldinho Create Upcoming NFT Campaign in Toronto

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