The Globe and Mail reports in its Thursday edition that the S&P 500 and S&P/TSX Composite Index ended lower on Wednesday after a hotter-than-expected U.S. inflation reading added to worries that the Federal Reserve would not cut interest rates any time soon. A Reuters dispatch to The Globe says that U.S. consumer prices increased in January by the most in nearly a year-and-a-half, reinforcing the Fed's message that it was in no rush to resume cutting rates. The surge in prices offered a cautionary note to President Donald Trump's push for tariffs on imported goods, which economists panned as inflationary. January's reading is the last inflation reading before any direct impact from Mr. Trump's tariff measures, which went into effect this month. Mr. Trump's trade advisers are finalizing plans for the reciprocal tariffs on every country that charges duties on U.S. imports. The S&P/TSX composite ended down 68.72 points at 25,563.11. The energy sector fell 2.2 per cent as the price of oil settled 2.7 per cent lower at $71.37 (U.S.) a barrel. The materials group was a bright spot, rising 1.2 per cent, as gold and copper prices rose. Barrick Gold added 6.3 per cent after beating fourth-quarter profit estimates.