India, Aug. 14 -- Canadian stocks moved lower on Thursday, retreating from yesterday's record highs as today's inflation data from the US eased expectations of a substantial Fed rate cut this September though job market data kept rate cut anticipation alive. Profit-taking by investors from previous record gains also weighed on the market.
After opening slightly lower than the previous close, the benchmark S&P/TSX Composite Index stayed in negative territory and finally closed at 27,915.99, down by 77.44 points (or 0.28%).
Canada is currently reeling under 35% US tariffs for all its exports to the US, except for goods covered under the CUSMA. Domestic industries - especially, steel, automobile, and manufacturing sectors - are struggling to...