Equities in Toronto finished negatively Thursday as technology and metals got hit particularly hard.
The TSX Composite Index declined 155.85 points to end Thursday at 34,969.26
The Canadian dollar eased 0.16 cents to 70.75 cents U.S.
Equipment manufacturer Toromont Industries was the biggest percentage gainer on the TSX, up $35.25, or 17.1%, to $240.96, after announcing an update on its power systems business.
However, AbraSilver led miners downward, skidding $1.34, or 9.1%, to $13.40, while Orla Mining lost $1.10, or 7%, to $14.61.
Among techs, BlackBerry let go of 60 cents, or 4.8%, to $11.88, and CGI dipped $6.53, or 7%, to $86.75.
Energy stocks took their knocks, weighed most by Imperial Oil ducking $3.32, or 2.1%, to $157.82.
Health-care stocks tried to even things out, as Curaleaf surged 74 cents, or 5.5%, to $14.17, Chartwell Retirement Residences units jumped 58 cents, or 2.8%, to $21.67.
In industrials, Badger Infrastructure Solutions flew $3.77, or 4.4%, to $90.03.
In financials, goeasy Ltd. tacked on $2.58, or 6.6%, to $41.77, while EQB Inc. gained $2.29, or 1.9%, to $124.89.
The Fed's stance rattled investors, with TSX pulling back from its all-time high on Wednesday, further weighed down by declines in resources and industrial stocks.
Meanwhile, oil prices extended losses on Thursday, with Brent crude trading near $77 a barrel, after Washington and Tehran signed an interim agreement to end the war, reopen the Strait of Hormuz and waive U.S. sanctions on Iranian oil.
Separately, Canada, Norway, and Sweden will announce a new Prioritized Ukraine Requirements List package to supply Ukraine with U.S. weapons, Sweden's Defence Minister Pal Jonson said in Brussels on Thursday.
On the economic calendar, Statistics Canada reported its Industrial Product Price Index rose 1.2% month over month in May and increased 13.6% year over year.
The Raw Materials Price Index gained 0.7% month over month in May and rose 33.4% year over year.
ON BAYSTREET
The TSX Venture Exchange lost 4.23 points to 962.89.
The 12 TSX subgroups were divided equally, with materials off 2.4%, information technology sliding 2.2, and energy 2% less energetic.
The half-dozen gainers were led by health-care, rumbling 2.5%, while industrials picked up 0.9%, and real-estate advanced 0.6%.
ON WALLSTREET
U.S. stocks rose on Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year — a move that sparked a selloff in equities during the previous session.
The Dow Jones Industrials regained 72.15 points to close Thursday at 51,564.70.
The S&P 500 index hiked 80.48 points, or 1.1%. to 7,500.58
The NASDAQ popped 496.28 points, or 1.9%, to 26,517.93.
Markets in the U.S. will be closed Friday for Juneteenth.
Intel led chip stocks higher, rising 10% after President Donald Trump said the company will partner with Apple on designing chips in the U.S.
Fellow semiconductor names such as Nvidia gained 2% and Micron Technology was higher by more than 9%.
Stocks are on pace to close out the holiday-shortened week in positive territory. The S&P 500 has risen 0.8% week to date, heading for its 11th winning week in 12. The Dow is also on track for an 0.8% gain for the week, while the NASDAQ has jumped 2%.
Meanwhile, oil prices dropped after Vice President JD Vance said tankers loaded with more than 12 million barrels have moved through the key Strait of Hormuz passageway.
This comes after Trump on Wednesday signed a memorandum of understanding with Iranian President Masoud Pezeshkian to end the Middle East conflict.
Prices for the 10-year Treasury rallied, lowering yields to 4.45% from Wednesday 4.50%. Treasury prices and yields move in opposite directions.
Oil prices inched up a penny to $76.80 U.S. a barrel.
Gold prices dropped $146.10 to $4,235.30 U.S. an ounce.
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