TSX, U.S. markets sink as Fed forecasts fewer interest rate cuts ahead

TORONTO — Markets on both sides of the border fell sharply Wednesday afternoon after the U.S.

Federal Reserve cut interest rates and reined in its projections for cuts in the new year, with the S&P 500 losing almost three per cent and the TSX down more than two per cent.

“It was such a narrowly led market on both sides of the border, that if that starts to change, then a wise investor would be very pleased that they diversified,” said Buntain.

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