The Federal Reserve’s first interest rate cut in a decade sent North American stock markets lower as investors expressed disappointment that further cuts aren’t guaranteed.
The S&P/TSX composite index was down 59.49 points at 16,406.56.
In New York, the Dow Jones industrial average was down 333.75 points at 26,864.27. The S&P 500 index was down 32.80 points at 2,980.38, while the Nasdaq composite was down 98.19 points at 8,175.42.
The Canadian dollar traded at an average of US76.06¢, compared with Tuesday’s average of US75.94¢.
The September crude contract was up US53¢ at US$58.58 per barrel and the September natural gas contract was up US9.6¢ to US$2.23 per mmBTU.
The December gold contract was down $4.00 at US$1,437.80 an ounce and the September copper contract was down US1.25¢ at US$2.67 a pound.