The main index of the Toronto Stock Exchange recorded its second straight day of triple-digit losses as investors fled resource stocks Friday.

The S&P/TSX composite index ended the trading day down 127.36 points, or 1.05%, at 12,038.07.

The main index fell 2% over two sessions and is down 1.9% on the week.

Overall, six of the 10 main 10 main groups fell.

The energy sector saw a drop of more than 2.7% as crude oil and natural gas futures retreated.

Crude futures fell $1.28 to US$72.04 a barrel after the International Energy Agency cut its estimates of world oil demand.

Canadian Natural Resources fell $2.20 to $63; EnCana shed $1.70 to $55.63.

The gold sub-group lost 3.3% as bullion prices fell almost US$10 an ounce and investors took profits in a sector that has seen some spectacular gains recently.

Shares of Barrick Gold slumped 78¢ to $3722; Goldcorp stock shed $1.82 to $41.74.

Sleeman Breweries rose $1.75 to $13.40 before trading was halted just after 15:00 ET. There are rumours that Sleeman is for sale.

The TSX financial sector rose 0.9%, tempering losses on the main index. The tech sector gained 0.7%, halting a five-session slide.

The junior S&P/TSX Venture composite index fell 66.63 points, or 2.02%, to 3,225.86.

The Canadian dollar lost more than six-tenths of a cent to finish at US90.14¢ as the Canadian trade surplus came in a little smaller than expected.

U.S. stocks fell for a second straight day on Friday, hurt by a sell-off in energy shares such as Dow component Exxon Mobil Corp. as crude oil prices dropped, and as a jump in import prices fed inflation concerns

Meanwhile, the University of Michigan’s consumer-sentiment survey showed optimism among American consumers fell in May to its lowest level since last summer.

The Dow Jones industrial average tumbled 119.74 points, or 1.04%, to close at 11,380.99.

The Nasdaq composite index dropped 28.92 points, or 1.27%, to 2.243.78.

The S&P 500 slid 14.68 points, or 1.12%, to 1,291.24.

The Nasdaq registered its worst weekly loss in 13 months, while the Dow snapped a five-week winning streak, its longest in six months.

For the week, the Dow fell 1.7%, the Nasdaq dropped 4.2%, and the S&P 500 lost 2.6%.