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Markets Brace for BoC Decision After Brutal Friday Selloff

Canadian and global markets are attempting to stabilize this Monday morning after a punishing end to last week — and with one of the most closely watched Bank of Canada rate decisions in recent memory arriving in just two days, investors have plenty to keep them on edge. What Happened Friday Friday's selloff was sharp and broad. The technology-heavy Nasdaq Composite tumbled 4.18% — its steepest single-day decline since April 2025 — closing at 25,709. The S&P 500 fell 2.64% to 7,383, and the Dow Jones Industrial Average lost roughly 695 points (−1.35%) to end at 50,866. The catalyst was a brutal rotation out of chip stocks. Broadcom had already disappointed investors mid-week by failing to raise its AI chip guidance, and the selling gathered momentum on Friday. Marvell Technology and Micron plunged approximately 16% and 13%, respectively, while Nvidia, Intel, and AMD all shed between 6% and 11%. Compounding the pain: a stronger-than-expected U.S. jobs report for May pushed Treas...
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Wall Street Aims for Gains to Close 2023 in Subdued Holiday Trading

Wall Street is aiming for gains to close out 2023 in subdued holiday trading. Futures for the S&P 500 and the Dow Jones Industrial Average each edged less than 0.1% lower before the bell, but markets so far are holding on to gains for the week with little in the way of new economic data or corporate earnings. On Tuesday the S&P 500 rose 0.4% to 4,774.75, finishing less than 0.5% below its all-time high set nearly two years ago. The benchmark index is coming off eight straight weekly gains, its longest winning streak since 2017.

Investors should keep in mind that the stock market is volatile and can be unpredictable. It is important to do your research and invest wisely. If you are new to investing, it is recommended that you seek the advice of a financial advisor.


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