Worries over more losses related to the credit crunch sent financial shares lower on Tuesday, offsetting a rebound by gold producers on the Toronto Stock Exchange.

The S&P/TSX composite index closed down 36.19 points, or 0.27%, at 13,167.00. It was the fourth session in a row the benchmark index has closed lower.

Six of the 10 main sectors fell on Tuesday.

The financials group lost 1.1%, after U.S. investment bank J.P. Morgan Chase said it has accumulated US$1.5 billion of losses so far this quarter on mortgage-related assets.

In Toronto, National Bank shares slumped $1.46, or 2.8%, to $50.44. Royal Bank of Canada shed 79¢, or 1.7%, to $47.13.

The gold subindex gained 2.6% even as gold prices fell as the sector rebounded from a recent selloff.

Agnico-Eagle added $2.92, or 6%, to $51.92, and Goldcorp rose $1.25, or 3.9%, to $33.18.

The strength in golds gave a 2.1% lift to the broader materials group.

However, shares of silicon processor Timminco slumped $4.87, or 24.4%, to $15.10 after the company reported quarterly results on Monday that were not as strong as expected.

Small cap stocks on the Toronto Venture Exchange endured another session of steep losses. The junior S&P/TSX Venture composite index fell 38.83 points, 1.93%, to 1,976.52.

The Canadian dollar ended its losing streak, rising more than half a cent. The loonie closed at US94.09¢, up 0.57¢ from Monday’s close.

Canada’s trade surplus with the world expanded to $5.8 billion in June from $5.2 billion in May, Statistics Canada reported today.

In New York, U.S. stocks fell as bank shares tumbled on fresh worries about the economy.

The Dow Jones industrial average fell 139.88 points, or 1.19%, to 11,642.47. It was the Dow’s second drop in the past six days.

The S&P 500 dropped 15.73 points, or 1.21%, to 1,289.59, and the tech-heavy Nasdaq composite index dropped 9.34 points, or 0.38%, to 2,430.61.