S&P/TSX Composite Falls 0.6% to Two-Month Low as Materials, Financials Weigh

Canadian stocks closed mostly lower on Wednesday, with the benchmark S&P/TSX Composite Index falling 224.40 points, or 0.6%, to 35,235.87 — its lowest close in almost two months and its fifth decline in six sessions. The index opened higher but slid steadily into negative territory. Materials led losses as gold pulled back near the unchanged line after an early surge, dragging the S&P/TSX Capped Materials Index down 1.6%. Healthcare and financials also weakened, with their capped indexes falling 1.3% and 1.1%, respectively. Telecoms rebounded after Tuesday's sharp drop, lifting the S&P/TSX Capped Communications Services Index 1.4%. Energy stocks also gained as crude recovered some of the prior session's losses.