The S&P/TSX composite index fell 80.29 points, or 1.07%, to 7,433.08 on Friday as stocks sold off in most sectors. For the week, the benchmark index slipped 2.2%.

Golds stocks led the retreat, falling 4.43%. The sector came under pressure as the price of bullion fell sharply.

In other news in the sector, Cambior said will merge with Ariane Gold and the two will develop Ariane’s Camp Caiman gold project in French Guiana. Cambior shares fell 24¢ to $3.59, while Ariane gained 21¢ to $1.18.

Technology shares tech lost 0.85%, as bellwhether Nortel Networks fell 23¢ to $5.54.

Research In Motion bucked the downtrend rising $2.26 to $50.49. After markets closed on Thursday, the maker of the BlackBerry e-mail device reported better second-quarter results and higher revenues.

Tundra Semiconductor rose $1.14, or 6%, to $20.15 after it was upgraded by research firms.

Telecoms sagged 1.59% as Manitoba Telecom Services Inc. fell $1.36, or 3.25%, to $40.45. The phone company lowered its 2003 revenue growth forecast on Friday but said it expects higher sales next year.

Energy stocks dipped 0.91% as oil prices eased.

The junior S&P/TSX Venture composite index slipped 8.51 points to 1,383.18.

In New York, stocks sank to their lowest levels in about a month on Friday as investors braced for the corporate earnings season to gear up in October.

Data prepared by the University of Michigan showed U.S. consumer sentiment index unexpectedly fell to 87.7 in September from 89.3 in August.

The Dow Jones industrial average fell 30.88 points to 9,313.08, while the broader S&P 500 dropped 6.42 points to 996.85.

The technology-heavy Nasdaq composite index dropped 25.17 points, or 1.39 percent, to 1,792.07.

For the week, the Nasdaq posted a hefty loss of nearly 6%.

The Canadian dollar slipped to US73.92¢, down from US74.10¢ at Thursday’s North American close.