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Wall Street Braces as Tech Rout Deepens

US markets looked set for another turbulent session as futures for the S&P 500 and Nasdaq pointed lower, signaling continued pressure on the tech sector. A wave of selling has swept through major technology names this week, and Thursday’s pre‑market action suggested the downturn isn’t over yet. Alphabet remained a major drag after its sharp slide, with investors reacting to concerns about rising AI‑related spending and the uncertain payoff timeline. The pullback has added to broader anxiety across the sector, where valuations have been tested by shifting expectations around growth and profitability. Amazon now sits in the spotlight as traders await its upcoming earnings report. With sentiment already fragile, the company’s results could either steady the market or accelerate the sell‑off, depending on how its cloud and retail segments perform. Commodities also reflected the risk‑off mood. Silver prices tumbled, extending a recent decline and underscoring the cautious tone acros...
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Bank of Canada Diverges from Fed, Signals No Rate Cuts Soon

 

The Bank of Canada has made it clear that interest rates will not be coming down anytime soon, putting it on a divergent path from the U.S. Federal Reserve, which said this week that easing could be on the timetable. 

Inflation slowed to 3.1% in October, down from a peak of more than 8% last year, but it has remained above the bank’s 2% target for 31 months. Governor Tiff Macklem said that the bank has not started discussing rate cuts yet, as it’s too early to have that discussion.

The bank is still discussing whether it has raised interest rates enough and how long they need to stay where they are.


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