North American markets fell Thursday, extending this week’s losses, as investors reacted to the release of U.S. Federal Reserve minutes, which seemed to indicate the central bank might still raise rates at its next session.

The S&P/TSX composite index fell 154.08 points or 1.33%, to 11,465.50. Yesterday, the index finished almost 150 points higher.

Eight of the 10 TSX main sub-groups were down Thursday.

The materials index fell 2.48% and the gold sub-index by 4.03%.

The benchmark August contract closed down $10.30 at US$632.50 an ounce.

Goldcorp Inc. gave up $1.53, or 4.66%, to $31.27.

The energy index fell 1.55%.

Crude for August delivery closed up 42¢ at US$73.08 a barrel, marking their first higher close in four sessions.

Nexen Inc. fell $2.20, or 3.53%, to $60.05.

The information technology index declined by 1.57%.

Nortel Networks lost 10¢, or 4.20%, to $2.28.

The S&P/TSX Venture composite index lost 14.48 points, or 0.57%, to 2,520.09.

In New York, weak earnings news, geopolitical worries and the release of the Fed minutes sent stocks lower.

The Dow Jones industrials average shed 83.32 points to close at 10,928.10. The Nasdaq composite kndex fell 41.29 points, or almost 2% to 2,039.42, while the S&P 500 Index dropped 10.68 points to 1,249.13.

Federal Reserve policy makers meeting last month were all concerned by higher core inflation, but most expected inflation to ease, according to the June 28-29 meeting minutes released today. The FOMC voted unanimously on June 29 to raise the federal funds rate for 17th straight time, to 5.25%. But the minutes show many of the committee’s members had doubts about future policy.

After markets closed Google reported a big increase in its second-quarter earnings as the company’s results topped Wall Street estimates.

The company said it made US$721 million, or $2.33 per share, up from US$343 million, or $1.19 a share, in the same quarter of last year.

Shares of Google finished down $11.88 on Nasdaq at US$387.12.