Markets on both Bay Street and Wall Street fell Tuesday as investors in Canada shrugged off some good economic news while U.S. investors awaited key jobs data due on Friday for more clues to the strength of the economic rebound in their country.

The Toronto Stock Exchange S&P/TSX composite index fell 66.76 points or 0.75% to 8808, its steepest drop in nearly one month. The main culprit appeared to be profit-taking in the mining and energy issues, which slid 1.6% and 0.8%, respectively. Seven of the TSX’s 10 subindices ended lower.

The TSX Venture Exchange was 10.19 points lower or 0.53% at 1899.09

In New York, the Dow Jones industrial index lost 86.66 points or 0.81% to end at 10591.48. The technology-focused Nasdaq Composite Index lost 12.77 to finish at 2045.03. The Standard & Poor’s 500 Index slipped 6.71 points to close at 1149.26.

On Bay Street, the Bank of Canada’s decision to cut its key overnight interest rate by 25 basis points to 2.25% was widely expected and had no effect on the key index. Economists did their best to interpret what moves the central bank might make at its next setting in April. Some thought the bank had left the door open to more cuts, while others said the bank would stand pat. In any case, investors paid investors seemed to pay little attention to the move.

In banking news, Bank of Nova Scotia, which accounts for roughly 3.5% of the key index, was unable to spur a rally among financial shares even though it reported a higher quarterly profit that easily topped estimates. Shares of Scotiabank closed up 11¢ to $68.12, while Royal Bank of Canada was off 73¢ to $61.85.

In other banking news, Canadian Western Bank and HSBC Bank Canada have signed a letter of intent for Canadian Western Bank to acquire all of the shares of HSBC Canadian Direct Insurance Incorporated for $25.4 million in cash.

The Canadian dollar was down 0.21¢ at US74.46¢. Economists said the dollar’s dip wasn’t due to the central bank announcement, but rather to renewed strength in the U.S. dollar as evidence mounts that an economic rebound is on track.