After a volatile day on the Toronto Stock Exchange, broad-based declines in late-day trading pulled the benchmark index into negative territory by Wednesday’s close.

The S&P/TSX composite index closed at 11,517.54, down 68.19 points, or 0.6%.

The sub-gold index plunged 2.8% as gold futures retreated slightly. Gold for December delivery, the most active contract, slipped US$1.10, or 0.1%, to end at US$1,014.40 an ounce on the Comex division of the New York Mercantile Exchange.

The materials group finished down 1.7%.

Shares of Barrick Gold Corp. fell 2.5% to $39.23, and Yamana Gold Inc. dropped 3.2% to $11.44.

Goldcorp Inc. fell $1.10, or 2.5%, to $43.72.

Also lower was Iamgold Corp., down 4.6% to $15.09, and Agnico-Eagle Mines Ltd., off 3.2% to $72.47.

Higher on Wednesday was First Quantum Minerals Ltd., up 3.8% to $68.92, and Ivanhoe Mines Ltd., up 3.1% to $13.44.

The financials group finished the day flat.

Gainers in the group included Industrial Alliance Insurance and Financial Services Inc., up 2.1% to $29.56, and Intact Financial Corp., up 1.1% to $33.72.

Down for the day was Manulife Financial Corp., down 1.5% to $22.70, and Power Corp., off 1.6% to $29.89.

The energy group fell 1.4% as oil futures tumbled on Wednesday. Crude for November delivery, fell US$2.79, or 3.9%, to US$68.97 a barrel on the New York Mercantile Exchange, after data showed that oil inventories jumped by 2.8 million barrels last week.

Shares of Suncor Energy Inc. dropped $1.20, or 3.1%, to finish at $38.20

Shares of Canadian Natural Resources Ltd. dipped 2.2% to $74.97, and Talisman Energy Inc. fell 1.8% to $18.94.

Gainers included Penn West Energy Trust, up 2% to $16.10.

The greatest strength on the Toronto Stock Exchange was in the information technology group, which finished up 2%. Shares of CGI Group Inc. led the gains, surging 6.4% to $13.07.

The junior S&P/TSX Venture composite index slipped by 3.78 points, or 0.3%, to close at 1,277.85.

The Canadian dollar retreated by more than half a cent to close at US93.01¢.

In New York, the major U.S. stock market indices also finished lower as investors worried the Federal Reserve plans to scale back its efforts to stimulate the U.S. economy.

The Fed kept interest rates unchanged Wednesday, as expected, but said it would slow purchases of mortgage debt to extend that program’s life until the end of March.

The Dow Jones industrial average fell 81.32 points, or 0.8%, to 9,748.55.

The S&P 500 declined 10.79 points, or 1%, to 1,060.87.

The Nasdaq composite index fell 14.88 points, or 0.7%, to 2,131.42.

IE