Equities in Canada’s largest market stepped back from recent highs, as health-care and energy stocks weighed most heavily.
The S&P/TSX Composite dropped 107.57 points to greet noon at 15,277.70
The Canadian dollar remained upward 0.01 cents to 76.19 cents U.S.
Baytex Energy slid 28 cents, or 3.9%, to $6.88, while EnCana Corp. skidded 41 cents, or 2.4%, to $16.49
Health-care entries also suffered, as Canopy Growth Corp. gave back 22 cents, or 2%, to $10.57, while Valeant Pharmaceuticals slumped $1.12, or 5.8%, to $18.32.
Gold stocks proved a rare beacon, as Iamgold moved up 12 cents, or 2.3%, to $5.30, while Barrick Gold picked up 11 cents to $20.77.
ON BAYSTREET
The TSX Venture Exchange nicked up 0.48 points to 753.08
All but two of the 12 TSX subgroups went earthward, with health-care ailing 2.2%, energy down 1.5%, and information technology falling 0.9%
The two gainers were gold, better by 1.5%, and materials, up 0.5%.
ON WALLSTREET
U.S. equities traded mostly lower on Wednesday as investors awaited the Federal Reserve's latest decision regarding monetary policy.
The Dow Jones Industrials backed off from Tuesday’s all-time high 17.88 points to 19,893.33, with Caterpillar contributing the most losses.
The S&P 500 dropped 3.56 points to 2,268.16, with real estate falling 1% leading decliners.
The NASDAQ composite index gave back 6.07 points to 5,457.76
The Fed is scheduled to release its decision at 2 p.m. ET, with Chair Janet Yellen expected to hold a news conference at 2:30 p.m. ET.
Most market participants are expecting the U.S. central bank to raise rates by 25 basis points, marking just the second time in a decade it will have tightened monetary policy.
In economic news, the Producer Price Index rose 0.4% in November, above the expected 0.1% increase. Meanwhile, November retail sales rose less than expected as households cut back on purchases of motor vehicles. Industrial production fell 0.4%
Treasury prices for the 10-year note gained ground, lowering yields to 2.44% from Tuesday’s 2.48%. Treasury prices and yields move in opposite directions.
Oil prices fell 84 cents to $52.14 U.S. a barrel
Gold prices regained $6.20 to $1,165.20 U.S. an ounce.
