The Canadian market is down firmly in negative territory Wednesday afternoon as stocks from across several sectors reel under a severe bout of selling pressure amid concerns about interest rate outlook, and weak commodity prices.
Canadian stocks tumbled on Wednesday on concerns the Federal Reserve might keep interest rates higher for longer in the event of U.S. inflation readings coming in hotter than expected.
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The Canadian market ended on a slightly positive note on Monday, led by gains in materials sector as metal prices surged higher amid optimism about interest rate cuts by some major central banks.