The S&P/TSX Composite bounces back from morning lows after a supersized rate hike. Globalnews.ca

North American stock markets partially bounced back from disappointing news on Wednesday, including interest rate hikes bank of canada and hotter than expected inflation numbers in the US

The S&P/TSX Composite Index fell 63.45 points to end at a 16-month low of 18,615.19.

In New York, the Dow Jones Industrial Average was down 208.54 points at 30,772.79. The S&P 500 index was down 17.02 points at 3,801.78, while the Nasdaq Composite was down 17.15 points at 11,247.58.

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The Canadian dollar traded for 77.07 cents US, compared to 76.83 cents US on Tuesday.

The August crude contract was up 46 cents at US$96.30 a barrel and the August natural gas contract was up 52.6 cents at US$6.69 per mmBtu.

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The August gold contract rose by USD 10.70 to USD 1,735.50 an ounce and the September copper contract rose by 3.5 cents to USD 3.32 an pound.

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