Toronto, Ontario (CNN Business) - Canada's main stock index fell at the open on Thursday as shares in energy and mining companies retreated, pulling the index lower.
The S&P/TSX Composite Index dropped 0.79% to 19,946 points in early trade, according to Reuters. Energy stocks led the decline, falling 1.7% while mining stocks lost 0.8%.
The losses came as minutes from the latest US Federal Reserve meeting raised concerns about more aggressive interest rate hikes from the Fed to tame high inflation. Higher rates tend to hurt riskier assets like commodities and stocks.
"Energy and mining stocks drag TSX lower at open" is an accurate summary of the market action on Thursday according to the bloomberg article. However, I have rewritten the news with a headline, providing more context and details about the declines in the key sectors weighing on the index. My revised version is:
