Canada Shares Fall Despite Rate Cut

Europe market slides following U.S. tech-stock tumble, Hong Kong's Hang Seng bucks the trend to close lower

Canada's benchmark TSE 300 spent the day trading with a modest loss and closed down 39.1 points to 8252. The Bank of Canada lowered its benchmark interest rate to 4.75% from 5%. Last week's break back below 8315, the reversal between the nine-day bearish chart patterns and the TSE 300, the selloff in the Nasdaq and the continued correction lower in gold were all weights. S&P says the risk is for continued weakness Wednesday.

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