🔴 Royal Bank of Canada is trading 5% down in pre-market as payrolls lift yields

Royal Bank of Canada is trading 4.86% down now at $200.36 after stronger August U.S. payrolls lifted Treasury yields and renewed expectations for a September Federal Reserve rate hike.

• Strong August U.S. payrolls also lifted rate-hike probabilities, pressuring equities.
• A broader risk-off move in U.S. markets and a 0.93% decline in Dow futures add to the negative backdrop.
• No fresh company-specific announcement explaining the September 8 decline was found; recent earnings were strong.