The Canadian market ended notably lower on Wednesday after the Federal Reserve said it does not expect it will be appropriate to lower rates until it has gained greater confidence that inflation is moving sustainably toward 2%.
Stocks on both sides of the border took separate drubbings Wednesday, as the U.S. Federal Reserve poured cold water on hopes for an imminent interest rate cut.
The TSX Composite retreated 205.99 points to close Wednesday to 21,021.88.
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The Canadian market ended notably lower on Wednesday after the Federal Reserve said it does not expect it will be appropriate to lower rates until it has gained greater confidence that inflation is moving sustainably toward 2%.