The Globe and Mail reports in its Tuesday edition that Canada's main stock index fell on Monday, weighed by declines for interest rate sensitive stocks, as investors worried that a potential Bank of Canada rate hike could slow the domestic economy. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended down 247.92 points at 35,928.63. Canada's annual inflation rate rose less than expected to 3.1 per cent in September. Still, investors have raised their bets on a Bank of Canada interest rate hike next week after Governor Tiff Macklem said on Saturday there was increased risk that inflation broadens and becomes more persistent. "If they were to hike, they're going to be slowing down an economy that's already moving at a snail's pace,: said Allan Small at iA Private Wealth. Canada's economy has lost 41,200 jobs in the first nine months of the year compared with a gain of 211,300 in the same period of 2025. Heavily weighted financials fell 0.6 per cent, while industrials were down 1.1 per cent as railway shares and Air Canada lost ground. Shares of Air Canada fell 3.2 per cent after brokerage Jefferies cut its rating on the stock. Energy was the only major sector to end higher, adding 0.5 per cent.