The S&P/TSX Composite Index fell 0.8% to close at 33,318 on Wednesday as the Bank of Canada and the US Federal Reserve held interest rates. The BoC kept its policy rate at 2.25%, as expected, maintaining a wait-and-see approach amid ongoing US-Iran tensions that are stoking inflationary fears. Meanwhile, the Fed held its benchmark rate in the 3.5%–3.75% range, citing the spike in oil prices and heightened economic uncertainty from the Iran conflict. Major banks declined, BMO was down 2%, Royal Bank of Canada fell 1.3%, and TD dropped 0.8%. Energy stocks benefited from the oil rally, while gold prices slipped, pressuring miners. Canadian Natural Resources gained 1.9%, and Agnico Eagle lost 2.9%. Shopify fell 0.7% ahead of earnings reports from major US tech companies after the market close.