TORONTO — Canada’s main stock index fell more than 250 points in a broad-based decline Wednesday, while U.S. stock markets also fell.
The S&P/TSX composite index closed down 253.07 points at 20,695.02.
In New York, the Dow Jones industrial average was down 94.45 points at 37,266.67. The S&P 500 index was down 26.77 points at 4,739.21, while the Nasdaq composite was down 88.72 points at 14,855.62.
The latest data on U.S. retail sales released Wednesday showed sales were stronger in December than economists expected.
Bond yields climbed after the report, putting downward pressure on equities, as investors trimmed bets for the U.S. Federal Reserve to start cutting its overnight rate in March.
“The expectations have come down for the first round of rate cuts, because the economic data … showed that December was pretty good,” said Jennifer Tozser, senior wealth adviser and portfolio manager with Tozser Wealth Management at National…
