Stocks are sliding Wednesday, as traders respond to yesterday’s rate decision in the U.S., some disappointing corporate news, and the uncertainty surrounding this afternoon’s certification deadline. U.S. firms must attest to the validity of their financials to the Securities and Exchange Commission by 17:30 ET.

The S&P/TSX index is down 79 points to 6,450. Volume is on the light side at 78.1 million shares, with selling volume overwhelming the buying by almost three to one. Losers have a five to three edge on winners.

The only sector that’s holding up today is real estate. Everything else is down. And, in the case of diversifieds and industrials, down big, dropping 2.4% and 3.9% respectively. There are also some handy losses in financials, golds, health care, materials and consumer stocks. Fears of slow economic growth are just slugging market sentiment.

The big loser today remains Bombardier, as its product woes continue. It is down another 13.5% so far today, in heavy trading.

Other big name core companies are getting whacked too, with notable slides in CN Rail, Alcan, BCE, Air Canada, Domtar, CAE, and Fairmont Hotels. Bennett Enviro is down too.

Financials are another big force on the downside. Manulife Financial is down another 1.2%. Scotiabank has dropped 1%, and Royal Bank is down in active trading, too.

Axcan Pharma reopened for trading after receiving the news that its Helicide product has not received U.S. FDA approval. It is down almost 5% on the news.

A few companies are making gains today, including Placer Dome, which is bucking general weakness in the gold sector. Petro Canada is up, as is Co Steel, ATI, Gildan Activewear, Brookfield, O&Y Properties, Meota Resources and Bonavista Petroleum.

Stocks making their own good fortune today include IPL Inc., which is up 8% on news that its third quarter net earnings surged 54.9% to $4.3 million.

Cinram International is up 4.6% on news that its net earnings for the second quarter increased to $7.6 million, compared with $1.0 million in the prior year.

In other earnings news, Cryptologic reported that net income before non-recurring items in the quarter was $2 million, down from $4.8 million in the second quarter of 2001. But, as a result of a special charge, the company reported a net loss for the quarter of $7.8 million.

Baytex Energy saw net income of 41¢ per share, 86% higher than the second quarter of 2001 and 193% higher than the first quarter of 2002.

In New York, stocks opened the day lower, and after a choppy trade they remain mixed. The fears of slow growth and the uncertainty of the certifications due today has the Dow Jones industrial average down 85 points at midday to 8,395. The S&P 500 has dropped four points to 880. But Nasdaq is shaking off its fears to trade up five points to 1,274.

The weakness is also afflicting the S&P/TSX Venture index, which is down eight points at midday to 1,018. Volume has picked up a little to 11.5 million shares. Ascot Energy Resources is the top trader, up 3% on 2.7 million shares.