Toronto stocks closed broadly lower Friday as fears of higher interest rates offset buoyant commodity prices .The S&P/TSX composite index closed down 38.29 points, or 0.41%, at 9,367.49.

Inflation data released on Friday, coupled with strong retail sales this week, sparked talk that the Bank of Canada may raise interest rates sooner rather than later.

Statistics Canada said the annual inflation rate in March rose to 2.3% from 2.1% in February, in line with expectations.

All of the TSX’s 10 main groups ended down, led by a 1.43% drop in the tech sector. Health-care issues lost 1.04% while industrials dropped 0.92%.

On Wall Street, U.S. stocks closed lower, hit by higher crude oil prices, a report that North Korea could be preparing for a nuclear weapons test and some disappointing earnings from companies like Costco .

The Dow Jones industrial average was down 60.89 points, or 0.60%, to end at 10,157.71 and the S&P 500 was down 7.83 points, or 0.68%, to close at 1,152.12. The tech-heavy Nasdaq composite index was down 30.22 points, or 1.54%, to finish at 1,932.19.

For the week, the Dow ended up 0.71%, the S&P 500 edged up 0.84%, and Nasdaq was up 1.26%.