Toronto stocks tumbled Wednesday in a broad selloff over credit concerns that was made worse by falling oil prices.

The S&P/TSX composite index closed down 213.89 points, or 1.5%, at 13,654.74 after earlier sinking as much as 341 points.

The heavyweight energy sector was a dragged down the broader index falling 1.8% as U.S. crude oil futures dropped more than 2%.

The September crude oil contract on the New York Mercantile Exchange ended down $1.68 to US$76.53 per barrel.

Canadian Natural Resources fell $2.11, or 2.9%, to $71.10.

Enbridge shares down 74¢, or 2%, to $37.09 after the firm reported a lower quarterly profit.

Nearly all of the big banks gave up ground, with CIBC down $2.03, or 2.2%, at $90.47, and Bank of Nova Scotia down 65¢, or 1.3%, at $48.80.

The financials group, which represents about a third of the overall index, fell 1.1%.

The materials group fell 2.1% as prices for base and precious metals dropped. Potash Corp. of Saskatchewan dropped $1.54, or 1.8%, to $84.15 and Teck Cominco fell $1.25, or 2.6%, to $46.05.

Among individual shares, BCE reported a higher second-quarter profit that was in line with expectations, but fell 39¢, or 1%, to $39.89.

The junior S&P/TSX Venture composite index plunged 102.60 points, or 3.21%, to 3,090.12.

The Canadian dollar closed up 0.82 of a cent at US94.56¢.

In New York, U.S. stocks ended sharply higher after a volatile session.

he Dow Jones industrial average rose 150.38 points, or 1.14%, to end at 13,362.37. The S&P index was up 10.54 points, or 0.72%, to finish y at 1,465.81. The Nasdaq Composite Index was up 7.60 points, or 0.3%, to close at 2,553.87.