The Globe and Mail reports in its Wednesday edition that Canada's main stock index was down slightly Tuesday and U.S. markets also fell, as investors continue to make guesses about when central banks on either side of the border will start cutting interest rates. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index was down 38.08 points at 21,217.53. In Canada, where markets were coming off a holiday Monday, the big news was Statistics Canada's latest Consumer Price Index report. The data showed Canada's annual inflation rate fell to 2.9 per cent last month, a steeper-than-expected deceleration in price growth. The newest inflation reading suggests monetary policy in this country is having an impact on slowing the economy, and raises questions about how soon the Bank of Canada may be willing to pull the trigger on a rate cut. The Bank of Canada has held its key rate steady at 5 per cent, but many forecasters expect it could begin cutting interest rates around the middle of the year or even sooner. Shares of the chip designer Nvidia tumbled 4.35 per cent. Investors are concerned whether Nvidia's quarterly results, expected after markets close today, will justify its expensive valuation.