The S&P/TSX Composite fell 0.6% to close at 27,370 on Wednesday, retreating from record highs as investors absorbed the Bank of Canada’s decision to hold its policy rate at 2.75%, a move justified by persistent tariff uncertainty and an anticipated Q2 GDP soft patch following exporters’ front-loaded shipments. Losses among commodity producers and tech stocks compounded the downturn as major mining names Agnico Eagle, Wheaton Precious, and Barrick slid 1.5%–2.1% alongside bullion, which was weighed down by a stronger US dollar and robust US Q2 growth, while copper prices plunged on renewed 50% tariff threats from President Trump. Mixed corporate results in the US and the Federal Reserve’s decision to leave rates unchanged despite a surprisingly strong 3% annualized GDP beat further dampened risk appetite, and Shopify’s 0.9% decline underscored the continuing drag of restrictive borrowing costs on growth-oriented sectors.