Toronto stocks tumbled again on Monday after early enthusiasm over the U.S. mortgage bailout plan fizzled and concerns over demand for commodities dragged resource shares lower.

The S&P/TSX composite index closed down 181.59 points, or 1.42%, at 12,634.83. Eight of the 10 main TSX groups closed in negative territory.

The heavyweight energy and materials sectors led the downside as worries resurfaced over how demand for commodities will fare in the face of sluggish global growth.

The energy and materials sectors lost 3.4% and 4.9%, respectively

In the energy group, Canadian Natural Resources slid 4% to $80.00, while Suncor Energy fell 6.7% to $49.16.

In the materials group, Agnico-Eagle Mines was down 7.4% at $51.26, while fertilizer producer Potash Corp of Saskatchewan was the biggest net loser, falling 5.7% to $162.50.

The small tech sector slipped 1.6%, weighed down by Research in Motion after a report that said the global smartphone market is being hurt by the slowing economy. RIM shares falling 3.8% to $108.91.

The financial sector gained 1.5%, buoyed after the U.S. government took control of mortgage finance giants Fannie Mae and Freddie Mac on Sunday.

All of Canada’s major banks pushed higher, including National Bank of Canada, which rose 4.4% to $52.51, while CIBC gained 3.4% to $64.42.

The junior S&P/TSX Venture composite index fell 40.48 points, or 2.23%, to end at 1,771.63.

The Canadian dollar slipped 0.13 of cent from Friday’s close to finish at US93.92¢.

In New York, U.S. stocks rose after the U.S. government announced a bailout of mortgage finance giants Fannie Mae and Freddie Mac.

The Dow Jones industrial average closed up 290.18 points, or 2.59%, at 11,510.49. The S&P 500 finished up 25.48 points, or 2.05%, at 1,267.79. The Nasdaq composite index was up 13.88 points, or 0.62%, at 2,269.76.