The Toronto Stock Exchange followed U.S. stocks lower on Tuesday after a report showed that U.S. consumer confidence unexpectedly declined in May.

The S&P/TSX composite index dropped 101.86 points, or 1%, to close at 10,374.91.

The materials group suffered a 2.2% drop as gold futures finished the month down sharply. August gold futures fell US$13.30, or 1.4%, to close at US$927.40 an ounce on the Comex division of the New York Mercantile Exchange. The contract dropped a total of 5.3% in June.

The sub-gold index plummeted 2.8%.

Shares of Barrick Gold Corp. dropped 3% to $39.15 and Goldcorp Inc. finished at $40.43, off $1.42, or 3.4%.

Kinross Gold Corp. fell 2% to $21.20.

Higher for the day was Inmet Mining Ltd., up 1.4% to $42.67.

Financial stocks fell 2.1% on Tuesday.

Shares of Sun Life Financial Inc. plunged $1.43, or 4.4%, to $31.40 and Manulife Financial Corp. dropped 3.6% to $20.19.

Also lower was Royal Bank of Canada, down 2.3% to $47.57, and Bank of Nova Scotia, off 1.9% to $43.42.

Toronto-Dominion Bank’s stock finished at $60.09, down $1.22, or 2%.

Meanwhile, the energy group finished the day flat despite a drop in oil futures. Crude for August delivery fell US$1.60, or 2.2%, to end at US$69.89 a barrel on the New York Mercantile Exchange. During the month of June, the contract gained 5.4%, for a fifth consecutive monthly boost.

Gainers included Canadian Natural Resources Ltd., up 0.5% to $61.19, and Nexen Inc., up 0.5% to $25.27.

Lower was Petrobank Energy and Resources Ltd., off 2.8% to $33.78 and NuVista Energy Ltd., down 2.8% to $10.25.

The junior S&P/TSX Venture composite index fell 13.59 points, or 1.2%, to 1,091.97 during Tuesday’s trading.

The Canadian dollar fell by half a cent against the greenback, to close at US85.98¢.

Canadian markets will be closed on Wednesday for the Canada Day holiday.

In New York, the main stock market indexes also finished the day lower after the Conference Board released figures showing that the consumer sentiment index fell to 49.3 this month, down from 54.8 in May.

The Dow Jones industrial average dropped 82.38 points, or 1%, to close at 8,447.00. For the month of June, the blue-chip average slipped 0.6%.

The S&P 500 index slipped 7.91 points, or 0.9%, to finish at 919.32, flat for the month.

The Nasdaq composite index fell 9.02 points, or 0.5%, to end at 1,835.04, up 3.4% in June.

The three indexes all finished the second quarter with hefty gains, including an 11% boost for the Dow, a 15% jump for the S&P 500 and a 20% increase for the Nasdaq.

IE