TSX Snaps 8-day Winning Streak, Ends Modestly Lower

After opening higher and staying positive till a little before noon on Wednesday, the Canadian market slipped into negative territory, and despite briefly emerging higher around mid afternoon, dropped again and ended the session on a weak note.

Soft inflation data and expectations the Federal Reserve will slow the pace of interest rate hikes lifted sentiment early on in the session, but the mood turned cautious later on amid fears of a recession.

Profit taking after eight successive days of gains contributed as well to market's weak close.

The benchmark S&P/TSX Composite Index ended with a loss of 81.23 points or 0.4% at 20,376.23, the day's low. The index climbed to 20,632.01 intraday.