Weighed down by weak commodity prices, futures for Canada’s main stock index hit a three-week low. on Thursday. The TSX’s broad decline saw deep cuts among the industrial, tech and mining sectors.
The U.S. Federal Reserve left the main interest rate unchanged but signalled more hikes later this year. Wall Street markets also fell, as traders come to terms with the fact that interest rates will remain higher for longer than hoped.
The Canadian dollar traded for 74.24 cents U.S., compared to 74.22 cents U.S. on Wednesday.
U.S. crude futures traded $0.11 lower at $89.55 a barrel, and the Brent contract lost $0.29 to $93.24 a barrel.
The price of gold was down US$8.75 to US$1,920.73.
In world markets, the Nikkei was down 452.75 points to 32,571.03, the Hang Seng was down 230.19 points to 17,655.41, the FTSE was down 53.03 points to 7,678.62, and the DAX was down 209.73 points to 15,571.86.
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