Stock Market Today: Stocks Finish Mixed After Bank of Canada's Surprise Rate Hike

Canada's central bank unexpectedly lifted interest rates after pausing them earlier this year.

exterior of Bank of Canada building in Calgaray, Alberta
(Image credit: Getty Images)

Stocks started Wednesday higher but retreated as the session wore on as a surprise rate hike from the Bank of Canada lifted expectations the Federal Reserve will hike interest rates at its upcoming meeting. 

Not helping matters was a spike in Treasury yields, which had an outsized effect on tech stocks

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.