Edward Jones: Craig Fehr and Canadian Dollar

edward jones: The Canadian dollar traded at an average of 75.86 cents US compared with an average of 76.02 cents US on Friday, according to The Toronto Star. JONATHAN HAYWARD / THE CANADIAN PRESS Monday's downturn in tech stocks wasn't driven by any new news but an extension of existing undercurrents, says Craig Fehr, Canadian markets strategist for Edward Jones. After generating a 30 per cent return last year, the U.S. tech sector is up just 5.5 per cent year-to-date with the S&P 500 having lost more than 13 per cent from its early October peak. Expectations have grown so high, he said in an interview. Article Continued Below Apple Inc.'s shares slid another four per cent on a Wall Street Journal report that iPhone sales won't be as strong as originally expected, while other FAANG names also lost ground with Facebook, Amazon, Netflix and Google all closing lower by 3.9 to 5.7 per cent. And to the extent that the numbers have come in good but perhaps not living up to those lofty expectations, we're seeing that entire sector kind of come under a bit of a re-rating from the market at the moment. (news.financializer.com). As reported in the news.