The S&P/TSX Composite fell about 0.4% to below the 29,650 mark on Thursday, pulling back from the record high reached on Tuesday after stronger US data trimmed expectations for the magnitude of Fed easing this year. Revised US Q2 GDP growth was upgraded to 3.8% from 3.3%, initial jobless claims dropped to their lowest since July, durable goods orders surprised to the upside and the goods trade gap narrowed more than expected. Rate sensitive tech names were hit hard with mega caps Shopify and Constellation Software plunging more than 3% and 5% respectively, while major financials also traded firmly lower. Meanwhile, Canada said it will seek duty free access for up to 95% of its exports to Indonesia over the next eight to 12 months as Ottawa moves to diversify trade ties. On the domestic data front Statistics Canada reported payroll employment rose by 21,600 in July, up 0.1%, after a 9,100 decline in June, down 0.1%.