Canada's main stock index slipped on Wednesday due to falling commodity stocks, as investors evaluated a half-point interest rate cut by the Bank of Canada and anticipated further reductions in the future.

Canada's main index fell on Tuesday due to losses in utility and financial shares, as it took cues from declines in Wall Street indexes driven by rising U.S. treasury yields. The Toronto Stock Exchange's S&P/TSX composite index was down 114.

Canada’s main stock index fell on Wednesday, hurt by crude prices in the face of the Bank of Canada’s monetary policy decision that resulted in an outsized interest rate cut. The telecom sector saw the most growth on the TSX while mining and energy stocks were the biggest decliners.