* Comments from Poloz are likely to reinforce market expectations that the pace of future rate hikes will ease off, a day after the central bank kept interest rates on hold.

* Global stock markets slumped as the arrest of a top executive of Chinese tech giant Huawei in Canada for extradition to the United States accelerated fears of fresh tensions between the two economic superpowers.

* At 9:52 a.m. ET (14:52 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 347.23 points, or 2.29 percent, at 14,835.41. The main index is on course for its biggest daily drop in over six weeks.

* The losses were broad-based with all of the index's 11 major sectors in the red, with the energy sector's 4.5 percent slump leading the decliners.

* Oil tumbled in a volatile session after OPEC signaled it may agree to a smaller-than-expected output cut. US crude prices were down 2.8 percent per barrel, while Brent crude lost 2.3 percent.

* The financials sector slipped 1.5 percent, while the industrials sector fell 2.1 percent.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.5 percent.

* On the TSX, 19 issues were higher, while 222 issues declined for a 11.68-to-1 ratio to the downside, with traded volume touching 19.66 million shares.

* The largest percentage gainers on the TSX were Aphria Inc , which jumped 11.2 percent and Hydro One Ltd, which rose 3.9 percent.

* Dollarama Inc fell 13.2 percent, the most on the TSX, after the discount store chain reported lower-than-expected quarterly profit and revenue, as it faces stiff competition from US-based Dollar Tree Inc..

* The second biggest decliner was First Quantum Minerals Ltd , which fell 7.2 percent.

* The most heavily traded shares by volume were Hydro One Ltd, Aphria Inc, and Aurora Cannabis .

* The TSX posted no new 52-week high and 36 new lows.

* Across all Canadian issues, there were one new 52-week high and 91 new lows, with total volume touching 32.29 million shares.