Canada's resources-heavy main stock index was dragged down on Wednesday by a drop in mining shares as prices of precious metals declined while investors awaited minutes from the U.S. Federal Reserve's latest meeting for cues on interest rate cuts.
The TSX Composite remained deep in the red, 113.25 points to veer near noon Wednesday at 20,758.89.
The Canadian dollar sank 0.16 cents to 74.90 cents U.S.
TD Securities upgraded communications firm BCE's shares to "buy" from "hold". Shares in BCE grabbed 45 cents to $54.27.
Suncor Energy climbed $2.07, or 4.8%, to $44.87 after the energy firm said it saw record upstream production in the fourth quarter.
Orea Mining dropped 25% to 1.5 cents, after the company announced expected delay in filing annual audited financial statements.
ON BAYSTREET
The TSX Venture Exchange dipped 3.93 points to 549.82.
All but two of 12 subgroups lost ground mid-Wednesday, with gold dulling in price 2.4%, while materials sank 1.9%, and consumer discretionary was off 1.6%.
The two gainers proved to be energy, up 2%, and communications advanced 0.1%.
ON WALLSTREET
Stocks fell for a second day Wednesday, after the NASDAQ registered its worst daily decline in nearly three months.
The Dow Jones Industrials dwindled 242.95 points to begin Wednesday at 37,472.09.
The S&P 500 sank 29.85 points to 4,712.48.
The NASDAQ dropped 127.59 points to 14,638.35, dragged down by major technology stocks and a nearly 4% decline in Apple after Barclays downgraded the iPhone maker.
Apple shares dipped another 0.3% on Wednesday.
Fellow tech stalwarts and “Magnificent 7” members Nvidia, Tesla and Meta all declined Wednesday.
Prices for the 10-year Treasury dipped, raising yields to 3.96% from Tuesday’s 3.94%. Treasury prices and yields move in opposite directions.
Oil prices recovered $2.15 to $72.53 U.S. a barrel.
Gold prices waned $32.00 to $2,041.40.
