Canada's largest stock market weakened, after the U.S. Federal Reserve raised its short-term interest rate by a quarter of a percentage point to between 0.5% and 0.75%. The spot gold price tumbled to a 10-month low of US$1,134.60 per oz., down 2.2% from the previous week. The S&P/TSX Composite Index retreated 0.4% to 15,252.90 points. The S&P/TSX Global Mining Index lost 5.4% to finish at 61.44, while the S&P/TSX Global Gold Index plunged 5.7% to 175.76. U.S. West Texas Intermediate crude for January rose 0.8% to settle at US$51.90 per barrel.
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