TSX Falls to Eight-Day Low as Metal Mining Shares Decline

Canada's main stock index, the TSX Composite Index, fell to an eight-day low on Friday after closing at its lowest level since August 20. The index ended down 280.33 points, or 0.8 percent, at 36,553.92.

The decline was led by metal mining shares, which lost 2.8 percent of their value. Gold prices also fell, decreasing by 3.1 percent as traders increased bets on an interest rate hike next month from the Federal Reserve.

US benchmark S&P 500 also lost ground after Federal Reserve Chair Kevin Warsh reiterated the central bank's focus on fighting inflation. The TSX Composite Index was down 0.2 percent for the week, adding to its slight decline in the prior week.