TSX Dow Jones

Gareth Watson: The telecom sector was the biggest gainer on the TSX, climbing 1.2 per cent, according to The Toronto Star. In New York, the Dow Jones industrial average was down 289.95 points at 16,384.79, the broader S&P 500 index declined 32.12 points to 1,958.08, and the Nasdaq gave back 66.72 points to 4,827.23. The S&P/TSX composite index lost 140.26 points to close at 13,646.90, while the loonie rose 0.25 of a U.S. cent to 75.66 cents US. The metals and mining sector of the TSX was the lead decliner, losing nearly five per cent, while energy stocks slipped more than two per cent. I think we’re seeing a little bit of digestion of what happened yesterday playing into the markets today with respect to the Fed interest rate decision, said Gareth Watson, vice-president of investment management and research at Richardson GMP Ltd. The rate has remained unchanged since the global financial crisis of 2008. The U.S. central bank said Thursday it would keep its benchmark overnight interest rate at between zero and 0.25 per cent, citing weakness in the global economy, low inflation and unsettled stock markets. (news.financializer.com). As reported in the news.