The Globe and Mail reports in its Wednesday edition that Canada's main stock index tumbled to its lowest point in over a month on Tuesday, with Barrick missing analysts' expectations with its first-quarter gold production. A Reuters dispatch to The Globe says the S&P 500 also closed lower. The overall sentiment was cautious owing to heightened tensions in the Middle East and investors nervous ahead of the Canadian federal budget, which raised capital gains tax on high-net-worth individuals. The budget was unveiled after the close of trade Tuesday. The S&P/TSX Composite Index closed at 21,642.87, down 97.33. The materials sector fell 0.5 per cent as Barrick and First Majestic Silver reported a fall in first-quarter precious metals production. First Silver plunged 9 per cent while Barrick fell 5 per cent. On the data front, Canada's annual inflation rate ticked up to 2.9 per cent in March, while core inflation measures eased for a third consecutive month, data showed on Tuesday. Money market bets for a June rate cut increased to over 50 per cent from 44 per cent before data. Federal Reserve Chair Jerome Powell said on Tuesday recent inflation data has not given policy makers enough confidence to ease credit soon.