Canada’s main stock index lost ground on Wednesday, as investors exercised caution following recent interest rate decisions from both the Bank of Canada (BoC) and the US Federal Reserve. The BoC lowered its benchmark rate by 25 basis points for the second time in a row, to 2¼ per cent, a move the central bank said was aimed at bolstering a sluggish economy facing potential risks from US tariffs.
Meanwhile, US stock markets showed a split performance after major indexes reached new highs following the Fed’s rate announcement. Investors are optimistic that the market will maintain its momentum, provided it can navigate a series of upcoming economic challenges.
The Federal Reserve also cut interest rates by another quarter point at the end of its meeting today. Many investors are hoping for another rate cut during the Fed’s December meeting.
| TSX | 30,144.78 | -274.90 |  |
| TSXV | 943.51 | -12.58 | |
| CSE | 172.96 | +0.00 |  |
| DJIA | 47,632.00 | -74.37 |  |
| NASDAQ | 23,958.47 | +130.98 | |
| S&P 500 | 6,890.59 | -0.30 | |
The Canadian dollar traded for 71.71 cents US compared to 71.74 cents US on Tuesday.
US crude futures traded $0.38 higher at US$60.53 a barrel, and the Brent contract rose $0.59 to US$64.99 a barrel.
The price of gold was up US$11.60 to US$3,979.01.
In world markets, the Nikkei was up 1,088.47 points to ¥51,307.65, the Hang Seng remained at HK$26,346.14, the FTSE was up 59.40 points to ₤9,756.14, and the DAX was down 154.42 points to €24,142.21.
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