Markets

TSX Closes Down 10 Pts, But Recoups Most of Earlier Losses after Fed Decision; Potash Corp decision now awaited

Toronto's main stock index pared losses on Wednesday after the U.S. Federal Reserve revealed plans to buy US$600 billion more in government bonds as it moved to reinvigorate a struggling U.S. economy.

With the U.S. Fed decision in, focus here has now switched to the Canadian government which is slated to announce after the close of trading whether or not it supports BHP's near US$40 billion bid for Potash Corp. (POT.TO).

The Toronto Stock Exchange's S&P/TSX composite index closed around the 12670 level. At 2:20pm ET (before the Fed decision) it was reportedly down 33.36 points at 12,648.06. Earlier, the index reportedly hit a low of 12,569.44.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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