The S&P/TSX Composite Index fell 0.3% to close at 35,582 on Tuesday as surging oil prices and elevated bond yields pressured Canadian equities. Domestic 10-year government bond yields approached 4%, remaining near their highest level since 2007, while expectations for a 25-basis-point Federal Reserve rate increase on Wednesday weighed on credit-sensitive stocks. Financials declined, with TD Bank down 0.5%, CIBC losing 0.6% and National Bank falling 1.3%. Softer gold prices pulled mining shares lower, while retailers also weakened sharply, led by a 2.7% decline in ATD and a 2.3% drop in Loblaw. Prime Minister Mark Carney meanwhile unveiled immediate tax write-offs for most new capital investments and is welcoming dozens of global investors to Toronto to promote projects amid the trade war with the US.