The Globe and Mail reports in its Saturday edition that Canada's main stock index fell to an eight-day low on Friday, led by declines for metal mining shares, as investors weighed hawkish comments from U.S. Federal Reserve chair Kevin Warsh. A Reuters dispatch to The Globe says the S&P/TSX Composite Index dropped 280.33 points at 36,553.92. The U.S. benchmark S&P 500 also lost ground, with investors turning cautious after Mr. Warsh reiterated the central bank's focus on fighting inflation. Without confidence that inflation is heading clearly and with sufficient speed to the Fed's 2-per-cent goal, the central bank would have "more work to do," Mr. Warsh said in his first Jackson Hole speech. The biggest reaction to Mr. Warsh's comments came in the bond market, where short-term U.S. yields spiked as traders priced in higher odds that the Federal Reserve will soon hike interest rates. That sent the U.S. dollar higher against major currencies including the loonie, and in turn, pushed commodity prices lower. Gold lost more than 3 per cent, weighing on the Toronto Stock Exchange in particular. "Chair Warsh came out blazing with a mostly hawkish message," said Douglas Porter, chief economist with BMO Capital Markets.