The Globe and Mail reports in its Thursday edition that Canada's main stock index fell on Wednesday as the prospect of interest rates remaining at elevated levels for an extended period weighed on investor sentiment. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index ended down 186.8 points at 20,226.96. Wall Street stocks also fell after stronger-than-expected services-sector data fuelled concerns of sticky inflation. The U.S. Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing Purchasing Managers' Index rose to 54.5 last month against expectations of 52.5, while a gauge of prices paid by service-sector businesses for inputs increased. "The stronger-than-expected ISM services data shows that investors are still not very skilled at reading the postpandemic tea leaves," said Carol Schleif, chief investment officer at Bank of Montreal's family office in Minneapolis. Ms. Schleif said the data show a strong economy and inflation that is not coming down "as fast as the Fed would need to start cutting rates any time in the foreseeable future." Oil futures settled up on Wednesday, adding to recent gains, which fuelled concerns about inflationary pressure.