By Ketki Saxena
Investing.com – In Toronto, the S&P/TSX Composite Index was at 21,998.38 points, or down 0.09% in the day’s trading.
The TSX closed in the red as investors digested today’s hotter than anticipated inflation data, the Bank of Canada’s likely response to tackle it, and bond yields that are still rising in Canada.
The index was weighed down by growth stocks including marijuana stocks and tech. Tech also tracked U.S. stocks in the sector lower following an abysmal earnings from Netflix (NASDAQ:NFLX), which caused the stock to plunge as much as 35% today.
Losses in Netflix and streaming peers, as well as mega caps including Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), and Meta pressured U.S. indices, with Wall Street closing on a mixed note today.
In New York, the Dow was up 0.71%, the S&P500 was down 0.05%, and the tech heavy Nasdaq was 1.22% lower at the close.
In Bonds
Yields on the Government of Canada’s benchmark were higher at 2.842%, while yields on the 5 year were at 2.770%.
Unlike in Canada, yields in the U.S. retreated today, with yields on the benchmark 10 year U.S. Treasury at 2.849%