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Tech Stocks Lost US$1 Trillion: Should You Dump Shopify (TSX:SHOP)?


Shopify(TSX:SHOP)(NYSE:SHOP) is likewise underperforming (-8.55%). If the downward trend continues, should investors move to sectors that would fare better in an inflationary environment?
Find ideal hedges against inflation
The TSX started the week of May 10, 2021, strong before skidding in the next three trading days. Fortunately, the energy and financial sectors led a broad-based rally and enabled the index to climb 230.90 points to recover the losses. Philip Petursson, chief investment strategist at
Manulife Investment Management, describes the week as a yo-yo of investor motions.
Again, it was the U.S. inflation numbers that scared investors. The Bank of Canada keeps interest rates at an effective lower bound until it achieves its inflation objectives. Meanwhile, investors seem to be taking profits and veering away from high-flying growth stocks, mostly constituents in the tech sector. ....

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North American stock markets recover to end week slightly off record highs


It started with three losing days in a row after U.S. inflation numbers spooked investors into worrying that the Federal Reserve would taper its loose monetary policy.
Markets rebounded on Thursday and Friday as fears subsided and flat retail sales data in April suggested that the central bank is probably further away from tapering and raising rates than was thought at the beginning of the week.
I actually think that perhaps the market is reading too much into the single data point that comes out from any economic report, Petursson said in an interview.
The S&P/TSX composite index closed up 230.88 points to 19,366.69 to come within half a point of last Friday s record high. ....

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