Canada’s main stock index pulled back from a record high on Thursday as Toronto-Dominion Bank reported its first loss in over two decades and a railroad stoppage threatened to disrupt the domestic economy.
The S&P/TSX composite index ended down 84.26 points, or 0.4%, at 23,037.47, after posting a record closing high on Wednesday.
U.S. stocks also fell as central bank officials from around the world gathered in Jackson Hole for the annual Economic Symposium, with investors laser focused on Fed Chair Jerome Powell’s address on Friday for clues on the timing and extent of the Fed’s policy easing cycle.
Canada’s economy could shrink by billions of dollars this year after the country’s two biggest freight rail operators locked out workers affiliated with the Teamsters union on Thursday, after both companies and the union failed to conclude labour deals.
Still, shares of both companies, Canadian National Railway Co and Canadian…
