India, April 29 -- Canadian stocks moved lower on Wednesday, extending the losses from two previous sessions amid the ongoing Strait of Hormuz closure while traders analyzed the interest rate decisions by the central banks of Canada and the U.S.
After opening below yesterday's close, today the benchmark S&P/TSX Composite Index traded firmly negative before settling at 33,318.39, down by 265.95 points (or 0.79%).
Only two of the 11 sectors posted gains today, with the energy sector leading the pack and the IT sector recording an incremental addition.
The ongoing war between the U.S. and Iran has left the Strait of Hormuz blocked since the war began on February 28, pushing oil prices higher to levels not seen in four years.
First, Iran cl...