By Ketki Saxena
Investing.com -- Canada's main stock index, the S&P/TSX composite index fell to a three-week low in the aftermath of the U.S. Federal Reserve's hawkish rate hold. While Canadian stocks held up well yesterday relative to Wall Street peers, the commodity-heavy Canadian index gave back gains today as crude prices and metals slid on Fed fears.
Although the US central bank maintained rates yesterday, it signaled further rate hikes ahead and a higher for the longer forecast.
Hotter-than-expected Canadian CPI data earlier this week also raised fears of further Bank of Canada rate hikes.
Canadian Stock Market News
Royal Bank of Canada (TSX:RY) has gone ahead with a round of its previously announced layoffs in its capital markets business, part of broader reductions that may result in the loss of 1,000 positions.
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In Canadian Economics
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