Major stock markets in Toronto and New York retreated in late morning trading today after consecutive days of hitting record highs.
On Bay Street, the S&P/TSX composite index shed 26.11 points to 15,730,47.
In New York, the Dow Jones industrial average slipped 2.03 points at 20,410.13, the S&P 500 lost 3.69 points at 2,324.56 and the Nasdaq composite fell 9.27 points at 5,754.69.
The shift in momentum came as Federal Reserve chair Janet Yellen testified before a Senate committee that the U.S. central bank expects to raise interest rates gradually this year.
The March crude contract rose 49 cents at $53.42 (U.S.) per barrel and April gold shed $1.30 at $1,224.50 an ounce.
The commodity-sensitive loonie fell 0.09 of a U.S. cent at 76.39 cents U.S.
Elsewhere in commodities, March natural gas fell 1.4 cents at $2.93 per mmBTU and March copper contracts shed about five cents at around $2.73 a pound.
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