Toronto stocks dropped Friday, despite a slight rise in energy stocks, as the broader market, and particularly the IT sector, headed into negative territory.

Meanwhile, U.S. stocks were walloped by disappointing earnings from Citigroup Inc. and General Electric Co. and higher energy prices.

The S&P/TSX composite index lost 87.30, or 0.75%, to 11,605.67.

For the week, the benchmark index gained a paltry 0.85 points.

Volume on the senior exchange was 333 million shares.

Eight of the 10 TSX main sub-groups were down, but the energy group managed to lift 0.22%. Light, sweet crude oil futures shot up $1.52 to settle at US$68.35 on geopolitical tensions.

EnCana Corp. shed 88¢, or 1.58%, to $54.81.

Meanwhile, the information technology sector sank 4.07%.

ATI Technologies fell 99¢, or 5.03%, to $18.70.

The materials sector retreated 1.36%.

Cambior Inc. gave back 18¢, or 5.04%, to $3.39.

The Canadian dollar moved ahead 0.84 of a cent at US86.75¢.

The S&P/TSX Venture Exchange index closed nudged ahead 1.94 points, or 0.08%, to 2,423.12.

In New York, stocks plunged on disappointing earnings from Citigroup Inc. and General Electric Co.

The Dow Jones industrial average fell 213.72 points, or 1.96%, to 10,666.99.

The S&P500 Index was down 23.74 points, or 1.85%, at 1,261.30, the tech-laden Nasdaq Composite Index was down 54.21 points, or 2.36%, at 2,247.60.

For the week, the Dow fell 2.7%, the S&P 500 slid 1.9% and Nasdaq declined 2.85%.