The Globe and Mail reports in its Thursday edition that the Dow ended lower and the S&P 500 finished close to flat Wednesday after the Federal Reserve cut interest rates, but Fed chair Jerome Powell said another rate cut in December is far from assured. A Reuters dispatch to The Globe says Nasdaq was higher, boosted by Nvidia, which during the session rose past $5-trillion (U.S.) in market valuation. The Toronto Stock Exchange closed decidedly lower, underperforming all three U.S. indexes, as the Bank of Canada also cut its key lending rate while cautioning it could be its last move of the current easing cycle. The Fed cut rates by 25 basis points, noting the limited data visibility owing to the current U.S. government shutdown. Stocks initially held gains after the statement but retreated after Mr. Powell said: "A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it, policy is not on a preset course." This sent U.S. Treasury yields and the dollar higher. The S&P/TSX Composite Index ended down 274.90 points at 30,144.78. The Bank of Canada signalled an end to its interest-rate cutting cycle after lowering its benchmark rate to a three-year low of 2.25 per cent.