© Reuters.
Investing.com — Canada’s main stock index, the S&P/TSX slid by late afternoon trading, while Wall Street’s main indices remained mixed following a decision from the US Federal Reserve.
The Federal Reserve , as had been widely expected, but in its monetary policy statement signalled it would not cut rates “until it has gained greater confidence that inflation is moving sustainably toward 2%”.
Risk sentiment also remained uncertain following a disappointing start to big Tech earnings, with missed expectations from Microsoft (NASDAQ:) and Alphabet (NASDAQ:) around AI progress.
The commodity heavy Canadian index was further pressured by sliding crude prices, following a surprise US crude inventories build, and slowing economic activity in China.
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