North American markets moved lower Tuesday as investors on both sides of the border absorbed the decision from the U.S. Federal Reserve to hold the line on rates.

The American central bank kept its key rate 5.25% but gave no indication in its statement that it would make a move to lower rates, saying that keeping inflation in check was still its primary concern.

In Toronto, weakness in the resource sectors offset gains in the financials group. The S&P/TSX composite index fell 19.70 points, or 0.15%, to 12,858.48.

Six of the 10 TSX main sub-groups were down, with the energy sector off 0.46%.

Light, sweet crude for January delivery fell 20¢ to US$61.02 a barrel.

EnCana Corp. fell 52¢, or 0.86%, to $60.19.

The materials sector fell 0.97%, while the gold sub-sector fell 0.84%.

Iamgold Corp. fell 16¢, or 1.54%, to $10.21.

Financials moved up 0.33%. Manulife Financial Corp. gained 19¢, or 0.49%, to $39.15.

Information technology fell 2.03% as Celestica lost $1.34, or 12.45%, to 9.42 as the company cut its fourth quarter profit outlook.

The Canadian dollar was down 0.29 of a cent to US86.81¢.

The S&P TSX Venture Exchange fell 33.20, or 1.18%, to 2,772.32

In New York, markets moved lower in reaction to the Fed statement and continuing concern over the slowing U.S. economy.

The Dow Jones industrial average fell 12.90 points, or 0.10%, to 12,315.58, the Nasdaq composite index dipped 11.26, or 0.46%, to 2,431.60, and the S&P 500 lost 1.48, or 0.10%, to 1,411.56.