(Adds analyst quote and details throughout; updates prices)

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TSX ends down 131.81 points, or 0.7%, at 19,891.65

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Financials group drops 0.9%

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Industrials end 0.7% lower

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TC Energy falls 2%

TORONTO, Dec 14 (Reuters) - Canada's main stock index fell on Wednesday, including declines for financial and industrial shares, as the Federal Reserve's hawkish projections spooked investors.

The Toronto Stock Exchange's S&P/TSX composite index ended down 131.81 points, or 0.7%, at 19,891.65.

U.S. stocks also closed lower as the Fed raised interest rates by an expected 50 basis points and revealed economic projections seeing higher rates for a longer period.

"Risk aversion roared back," Edward Moya, a senior market analyst at OANDA, said in a note. "The Fed's statement and projections were hawkish."

The Toronto market's heavily-weighted financials group fell 0.9%, while both industrials and consumer staples ended 0.7% lower.

Canadian stocks have recovered sharply from their October lows on hopes the Fed and other major central banks may temper their aggressive rate-hike stances following signs that inflation may have peaked.

TC Energy Corp shares ended 2% lower. The company said it expects to give an update on the Keystone pipeline restart later on Wednesday, a week after the 622,000 barrel-per-day pipeline was shut after leaking oil into a creek in Kansas. (Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; editing by Jonathan Oatis)