TSX drops to six-week low on rate hike fears
Canada's main stock index dropped to a six-week low as surging oil prices and inflation worries fueled expectations of further interest rate hikes. Metal mining and technology shares led the broad declines across the market.
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Canada's main stock index fell 400.28 points, or 1.1%, to 35,506.28 on Thursday afternoon. It marked the fourth consecutive daily decline, hitting the lowest closing level since July 31. Surging oil prices and rising inflation fears drove the broad-based sell-off.
