Canada’s main stock index moved lower on Wednesday as mining and financial market losses dragged the TSX lower for a fifth straight session. Industrials and telecom shares rose. The loonie continued its drop following the latest reading on inflation, which fell below the two per cent target.
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After hitting a record high earlier this month, the Dow Jones Industrial Average had its worst performance since August. Investors were glued to the US Federal Reserve’s Summary of Economic Projections and Chair Jerome Powell’s conferences. The Fed lowered its benchmark interest rate by 25 basis points The central bank is anticipated to moderate expectations for additional rate cuts in the coming year, especially given the persistent inflation.
| TSX | 24,557.00 | -562.71 |  |
| TSXV | 582.31 | -14.94 | |
| CSE | 129.31 | -1.31 | |
| DJIA | 42,326.87 | -1,123.03 | |
| NASDAQ | 19,392.69 | -716.37 | |
| S&P 500 | 5,908.71 | -141.90 | |
The Canadian dollar traded for 69.30 cents US compared to 69.87 cents US on Tuesday.
US crude futures traded $0.46 higher at US$70.54 a barrel, and the Brent contract added $0.14 to US$73.35 a barrel.
The price of gold was down US$26.43 to US$2,620.10.
In world markets, the Nikkei was down 282.97 points to 39,081.71, the Hang Seng was up 164.07 points to 19,864.55, the FTSE was up 3.91 points to 8,199.11, and the DAX was down 3.80 points to 20,242.57.
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(Top image generated with AI.)