TORONTO — Canada's main stock index was down more than 100 points Wednesday, weighed down by losses in base metal and energy stocks, while U.S. stock markets also moved lower ahead of after-market earnings from Nvidia.In New York, the Dow Jones industrial average was down 201.95 points at 39,671.04. The S&P 500 index was down 14.40 points at 5,307.01, while the Nasdaq composite was down 31.08 points at 16,801.54.
The minutes weren’t a big surprise, but showed officials speaking a little more hawkishly than chair Jerome Powell did at the press conference after the last decision, said Greg Taylor, chief investment officer at Purpose Investments.“Without it coming down as fast, it’s probably going to be harder to see the aggressive rate cuts that some people have been expecting, so probably more leaning towards higher for longer.
Otherwise, investors spent most of the day anxiously waiting for Nvidia's earnings release after the bell. Expectations had been high for the company that’s been helping lead a long rally on Wall St., said Taylor, and its guidance for the months ahead will be key.