TORONTO — Canada’s main stock index slipped on Wednesday, while U.S. stock markets also posted small losses after the U.S. Federal Reserve announced a highly anticipated outsized cut to its key interest rate.
TORONTO — Canada’s main stock index slipped on Wednesday, while U.S. stock markets also posted small losses after the U.S. Federal Reserve announced a highly anticipated outsized cut to its key interest rate.
The central bank cut rates by half a percentage point, saying that with inflation significantly lower, it can now turn more attention to protecting the economy and the slowing labour market.
“We’re not saying, ‘Mission accomplished’ … but I have to say, though, we’re encouraged by the progress that we have made,” said Fed chair Jerome Powell.
In New York, the Dow Jones industrial average was down 103.08 points at 41,503.10. The S&P 500 index was down 16.32 points at 5,618.26, while the Nasdaq…
