Toronto stocks finished lower Wednesday as a rally among technology issues failed to inspire the broader market. The S&P/TSX composite index shed 18.26 points to close at 6,970.62.

Canadian investors largely ignored the U.S. Federal Reserve’s decision to trim interest rates by a quarter percentage point.

ATI Technologies sparked a rally among technology shares as the graphics chip maker’s third-quarter profit easily exceeded analysts’ expectations.

Shares of ATI, rose $1.85 to $13.45, while Research In Motion added 63¢ to $30.70.

The information technology sector finished the session ahead 1.9% and energy stocks contributed with a 0.75% gain.

The S&P/TSX Venture Composite Index closed up 4.96 points at 1,105.11.

Trading was heavy on a volume of 39.2 million shares worth $16.3 million, with 217 advances, 199 declines and 528 issues unchanged.

In New York, stocks declined following the Fed announcement. The Dow Jones industrial average fell 98.32 points to 9,011.53. The S&P 500 index lost 8.14 points to 975.31, and the tech-heavy Nasdaq Composite Index lost 2.98 points at 1,602.63.

The Fed said it was ready to cut the cost of borrowing even more if the risk of deflation worsened, which spooked some investors.