(RTTNews) - Canadian stocks moved lower on Tuesday as the focus of investors shifts to the interest rate announcement by the U.S. Federal Reserve tomorrow amid increasing bets on a rate hike after concerns of prolonged crude oil supply disruptions in the Middle East elevated inflationary pressures. After opening below yesterday's close, today the benchmark S&P/TSX Composite Index traded negative throughout the session before settling at 35,582.07, down by 120.46 points (or 0.34%). Out of the 11 sectors, only the energy sector posted gains today. The U.S.-Iran conflict, which is now in its seventh month, is showing no sign of easing, leaving the Strait of Hormuz closed.
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