TORONTO -- North American markets hit lows for the year after the Federal Reserve increased interest rates and gave a more dovish outlook that didn't go far enough for investors.
The S&P/TSX composite index closed at a new low for the year, losing 152.83 points to 14,264.06.
In New York, the Dow Jones industrial average lost 351.98 points at 23,323.66. The S&P 500 index was off by 39.20 points to 2,506.96, while the Nasdaq composite was down 147.08 points at 6,636.86.
The Canadian dollar traded at an average of 74.35 cents US compared with an average of 74.63 cents US on Monday.
The February crude contract was up US$1.57 at US$48.17 per barrel and the January natural gas contract was down 11.2 cents at US$3.73 per mmBTU.
The February gold contract was up US$2.80 at US$1,256.40 an ounce and the March copper contract was up 5.15 cents at US$2.72 a pound.
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