Toronto stocks plunged for a second straight session on Thursday, as investors dumped shares amid worries about inflation and rising interest rates.

The S&P/TSX composite index closed down 237.71 points, 1.7%, at 13,703.88, for a total of 437.81 points over the past two days.

The loss over the past two days has pushed the index down 2.5% so far this month.

All of the 10 TSX main groups ended lower.

The resource-laden materials group and the heavyweight energy sector both dropped 2%.

The rate-sensitive financials group slipped 1.3%.

Bank of Montreal fell $1.25, or 1.8%, to $68.60.

In materials, Potash Corp. dropped $2.18, or 2.8%, to $75.99, while Goldcorp slid 87¢, or 3.3% to $25.30.

Shares of oil and gas companies fell even as U.S. crude rose 97¢ to settle at US$66.93 a barrel on supply concerns.

Canadian Natural Resources fell $1.72, or 2.4%, to $69.64, while EnCana slid $1.20, or 1.8%, to $66.20.

The junior S&P/TSX Venture composite index fell 55.43 points, or 1.71%, to 3,193.77.

The Canadian dollar eased Wednesday’s three-decade high, trading down 0.5 cent at US94.02¢.

In New York, stocks tumbled in a broad-based selloff as U.S. Treasury yields surged above 5%, reinforcing fears that global inflation would force borrowing costs to rise.

Major indexes posted their biggest three-day drop since February’s global equity rout, and their biggest one-day loss in three months.

The Dow Jones industrial average slid 198.94 points, or 1.48%, to end at 13,266.73.

The S&P 500 lost 26.66 points, or 1.76%, to finish at 1,490.72. The Nasdaq Composite Index dropped 45.80 points, or 1.77%, to close at 2,541.38.

The three benchmark indexes suffered their biggest one-day percentage losses since March 13.