Toronto stocks fell more than 100 points Tuesday as oil prices dropped to their lowest levels since April.

The S&P/TSX composite index fell 106.87, or 0.88%, to 12,060.48

Nine of the 10 TSX main sub-groups were down, with the energy index falling farthest at 1.62%. EnCana Corp. dropped $1.89, or 3.09%, to close at $59.27.

The October contract for light, sweet crude fell US71¢ to US$69.90 a barrel.

The financials sector was hot on the energy sector’s heels, falling 1% despite the Bank of Nova Scotia’s record third quarter earnings. Even though the bank’s net income rose 19% to $936 million in the quarter, its shares dropped $1.30, or 2.66%, to $47.63.

The only sector that was up was utilities, which rose a meager 0.02%.

The Canadian dollar rose 0.18 of a cent to close at US$90.26.

The S&P/TSX Venture Exchange index dropped 17.09 points, or 0.64%, to 2,675.79.

In New York, markets fell after minutes of August’s Federal Reserve meeting revealed that policy-makers believe more rate hikes may be needed to curb inflation.

The Dow Jones Industrial Average closed down 20.49 points at 11,331.52. The Nasdaq Composite Index slipped 4.7 points to 2,156 while the S&P 500 Index dropped 2.46 points to 1,299.32