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Canadian stocks continued to fall for the fourth consecutive session on Wednesday, marking its longest losing streak in over six weeks. The TSX Composite Index shed 182 points, or 0.9%, yesterday to settle at 19,331, its lowest closing level in more than a month.
The recent stock market weakness could be attributed to investorsâ rising concerns about more rate hikes in the near term after the U.S. Federal Reserve chairâs recent comments on inflation and the economy. In addition, a continued selloff in commodity prices across the board is also pressuring energy and metal mining stocks lately. Apart from commodity-linked shares, the TSX benchmarkâs losses yesterday were mainly led by financials, consumer cyclicals, real estate, and technology sectors.
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