The TSX further declined after the U.S. Federal Reserve released the results of its two-day policy meeting.
The S&P/TSX composite index finished the day down 20.12 points to 14,732.93
The Canadian dollar recovered 0.36 cents to 81.73 cents U.S.
Health-care was the worst off of the major subgroups in Toronto, as Catamaran Corp. got bruised 21 cents, or 0.3%, to $74.15.
Financials also had a rough time of it, as Genworth MI Canada fell 80 cents, or 2.4%, to $82.04, and Canaccord Genuity Group doffed 17 cents, or 2.1%, to $8.05.
Tech stocks were also going south, most notably DragonWave Inc., down two cents, or 2.9%, to 67 cents, and Avigilon, dipping 48 cents, or 2.5%, to $18.55.
Among utilities – also in the red – ATCO Ltd. fell 55 cents, or 1.4%, to $39.59, while Superior Plus swooned 15 cents, or 1.1%, to $13.24.
Gold stocks, however, moved higher, especially Alacer Gold, which rocketed 19 cents, or 7.3%, to $2.80, while Rubicon Minerals zoomed eight cents, or 6.2%, to $1.37.
Real-estate issues also fared better, as CAP REIT units moved higher by 57 cents, or 2.1%, to $28.23.
Bombardier was the most heavily traded stock, descending 3.5 cents, or 1.4%, to $2.42, on 5.3 million shares.
The U.S. central bank kept key rates unchanged, saying it expects to raise rates when the labour market improves and inflation, which it said is currently below its target, moves back to its 2% objective.
On the economic ledger, Statistics Canada reported that wholesale sales rose 1.9% to $55.2 billion in April, a second consecutive increase. The agency says sales were up in four of seven sub-sectors, led by the motor vehicle and parts sub-sector. Excluding this sub-sector, wholesale sales increased 0.4%.
ON BAYSTREET
The TSX Venture Exchange moved up 2.82 points to 681.57.
Nine of the 14 Toronto subgroups ended the day in the red, as financials and health-care each sank 0.7%, and information technology dipped 0.4%.
The five gainers were led by gold, up 1.9%, materials, up 0.8%, and real-estate, gaining 0.4%.
ON WALLSTREET
U.S. stocks closed modestly higher on Wednesday as investors digested the Federal Reserve statement and Fed Chair Janet Yellen's press conference.
The Dow Jones Industrials recovered 31.26 points to 17,935.74, with American Express leading advancers and UnitedHealth the greatest decliner.
The S&P 500 index gained 4.5 points to 2,100.79, with utilities leading eight sectors higher. Energy and telecommunications were the only laggards.
The NASDAQ moved higher 11.93 points to 5,067.48
The Federal Reserve held interest rates at zero and provided only faint clues about when the first hike in nine years might occur. The central bank downgraded the GDP forecast for the year to 1.8%-2% while raising longer-term growth expectations.
Stocks extended early gains as Yellen said markets should focus on the pace of rate increase rather than the timing of the initial hike.
Financials reversed after initially gaining, with Capital One Financial, SunTrust, KeyCorp, People's United Financial and Northern Trust touching multi-year highs.
Microsoft reversed to trade lower after the company's announced changes to its executive team. The reshuffle includes the departure of Stephen Elop, executive vice president of Microsoft Devices Group and the former CEO of Nokia.
Starbucks hit an all-time high on news the firm will close all 23 of its La Boulange retail locations by the end of September.
Oracle is among a handful of companies reporting earnings after the close.
In the continuing Greece debt saga, the European Central Bank could make an announcement on Emergency Liquidity Assistance for the country when the institution leaders meet today.
Greek banks are reliant on this funding and analysts warn that if the central bank curbs this liquidity, Greece may have no option but to impose capital controls.
The cash-strapped nation is set to default on a 1.6-billion-euro ($1.8-billion U.S.) debt repayment to the International Monetary Fund on June 30 unless it receives fresh funding from its creditors, who insist Athens needs to make further reforms if it wants to unlock aid.
Prices for 10-year U.S. Treasuries rose, lowering yields to Tuesday’s 2.31%. Treasury prices and yields move in opposite directions.
Oil prices erased 12 cents a barrel to $59.85 U.S.
Gold prices regained $5.40 at $1,186.30 U.S. an ounce.
