Toronto stocks fell back Tuesday, with the materials, information technology, and financial dragging the markets lower, despite an up tick in energy stocks.

The S&P/TSX composite index lost 78.30, or 0.69%, to 11,293.90.

Nine of the 10 TSX main sub-groups were down, with only the energy index, up 0.25%, in the black.

Crude for August delivery closed up 12¢ at US$71.92 a barrel on the New York Mercantile Exchange.

EnCana Corp. moved up 79¢, or 1.40%, to $57.40.

The materials index dropped 2.00% and the gold sub-sector fell 2.97%

Gold for August delivery ended down $3.30 at US$584.40 an ounce on the Nymex.

Bema Gold Corp. fell back 18¢, or 3.31%, to $5.26.

The financials sector fell off 0.63%. Scotiabank lost 14¢, or 0.31%, to $44.68.

Information technology moved 0.63% lower.

Research in Motion Inc. lost $1.65, or 2.20%, to $73.20.

The Canadian dollar closed up 0.01 of cent to US89.08¢.

The S&P/TSX Venture Exchange index was down 25.02, or 0.97%, to 2,549.18.

In New York, markets dropped in anticipation that the U.S. Federal Reserve would raise its key funds rate, maintaining a hawkish stance on inflation.

The Dow industrials fell 120.54 points to 10,924.74, its worst one-day drop since June 5. The Nasdaq Composite Index fell 33.42 points to 2,100.25, while the S&P 500 Index dropped 11.36 points to 1,239.20.