The Globe and Mail reports in its Thursday edition that U.S. and Canadian stock indexes ended the second session of the year down again in extended profit-taking on Wednesday after a strong finish to 2023, with minutes from the U.S. Federal Reserve's December meeting failing to shake off the funk hanging over markets. A Reuters dispatch to The Globe says that it was the first time the benchmark S&P 500 Index has started the year with two straight declines since it kicked off 2015 with a three-session skid. It was also its worst two-day performance, on a percentage basis, since late October. The decline contrasts with the blistering run for all three major Wall Street benchmarks in the final two months of the year. The S&P 500 came within striking distance of its all-time closing high last week as signs of cooling inflation spurred investors to bet on an aggressive rate-cutting schedule. However, investors have been cautious so far in 2024, wary of the U.S. central bank's expected pivot to rate cuts this year and how quickly these might be implemented. The S&P/TSX Composite Index ended down 53.56 points at 20,818.58. Fund manager Michael Sprung said investors were "overly enthusiastic" in the fourth quarter.