Global equity markets moved lower, giving back a portion of last week’s gains for the week ended August 19, 2022. The S&P/TSX Composite Index was pulled down by a weaker Information Technology sector this week. In the U.S., the S&P was largely brought down by poorer performance in the Communication Services sector. A big portion of these drops were felt due to the sharp decline in Facebook parent company, Meta. Relief at the pumps was still felt as oil prices moved lower while yields on 10 year government bonds in Canada and the U.S. rose over the week.