Toronto stocks snapped a seven-day winning streak to close lower Tuesday as an unexpected decline in U.S. consumer confidence stoked investor fears of a faltering economy.

The Conference Board reported that its U.S. consumer confidence index slid to 76.6 in July from 83.5 in the previous month, amid consumer jitters about rising unemployment. Analysts had expected a reading of 85.0.

The S&P/TSX composite index closed down 57.19 points at 7,227.35.

The TSX energy, industrials, health-care and consumer staples sectors all declined more than 1%.

Among energy stocks, Talisman Energy fell $1.02 to $60, while Canadian Natural Resources lost $1.39 to $52.56.

Golds also proved a drag, dropping 3.05%. Barrick Gold fell $1.21 to $24.29.

Barrick posted steady second-quarter profit late Monday but the stock fell as the market digested the negative impact that rising gold prices could have on the miner’s hedge book.

On the upside, the information technology sector rose 0.83%, with Nortel Networks ahead 14¢ to $4.19.

The telecoms group also ended up, gaining 0.82%. BCE Inc. rose 87¢ to $32.35.

Telus was up 63¢ at $25.15, after posting stronger than expected second-quarter profit on Tuesday

The junior S&P/TSX Venture composite index didn’t succumb to today’s downtrend. It gained 25.54 points, or 2.19%, to 1,190.09.

Toronto volume was197 million shares worth $2.69 billion. Market momentum was negative as decliners topped advancers 482 to 651.

In New York, the Dow Jones industrial average closed down 62.05 points at 9,204.46. Earlier in the day, the blue chips fell as much as 98 points.

The broader market also finished lower. The Nasdaq composite index lost 3.99 points to 1,731.37. The S&P 500 index fell 7.24 to 989.28.

The Canadian dollar finished nearly unchanged as investors waited for Wednesday’s GDP report. The loonie closed at US72.18¢, down slightly from US72.23¢ Monday’s close.