The TSX hit 8,000 and the Dow hit 10,000 Tuesday, but neither market could sustain those gains. The S&P/TSX Composite Index closed down 14.83 points at 7,975.94.

The TSX gold index fell 3.4% even though bullion futures gained US$1.60 to $408.20 an ounce.

Information technology stocks fell 1.2%, echoing a 2% drop in the tech-heavy Nasdaq Composite Index.

Energy and industrial stocks rose by 0.5% and 0.39%, respectively.

Inco shares jumped 82¢ to a new 52-week high of $48.77. Nickel prices are at 14-year highs and contract talks are continuing at Inco rival Falconbridge.

Stelco shares gained 34% to $1.64 on heavy volume of almost 10 million shares. There was no corporate news to account for the surge.

Bombardier shares fell 12¢ to $4.90. The company rolled out its 1,000 CRJ regional jet Tuesday.

Shares in investment dealer GMP Capital gained 26% on their first day of trading, rising $2.91 to $13.91.

The junior S&P/TSX Venture composite index fell 22.63 points to close at 1,698.26.

In New York, stocks fell after the Federal Reserve kept interest rates at 45-year lows and the Dow Jones industrial average spiked above 10,000 but was unable to stay there.

The Dow could only stay above the 10, 000 level for a couple of minutes in the morning before slipping back. It closed at 9,923.42, down 41.85 points.

The tech-heavy Nasdaq composite index fell 40.53 points to 1,908.32. The broader S&P 500 slipped 9.12 points to s1,060.18.

The Canadian dollar fell 0.58¢ to US76.44¢.