TSX down almost 1% Friday, U.S. stock markets fall sharply as rate cut hopes wane

TORONTO — Canada's main stock index lost almost one per cent on Friday as the market saw broad-based weakness, while U.S. markets also fell.

There are currently two schools of thought, said Petursson: Those who think equities need interest rate cuts, and those who are more focused on the ongoing strength of the U.S. economy. Those hoping for rate cuts coming soon have more to look forward to in Canada. The central bank again held its overnight rate steady this week but cuts are looking likely starting in June, said Petursson.

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