The Toronto Stock Exchange was weighed down by a broad-based selloff in commodities on Wednesday, including a 6% plunge in oil prices that dragged the energy group lower.

The S&P/TSX composite index shed 115.21 points, or 1.1%, to close at 10,455.33.

Oil futures plummeted after news that crude inventory levels jumped significantly more than expected last week. Crude oil for September delivery shed US$3.88, or 5.8%, to end at US$63.35 a barrel on the New York Mercantile Exchange.

On the TSX, the energy group dropped 2.8% on Wednesday.

Shares of Suncor Energy Inc. plunged $1.41, or 4.1%, to $33.32, and Canadian Natural Resources Ltd. fell 2.7% to $61.75.

Petrobank Energy and Resources Ltd. finished at $31.59, down a sharp $1.68, or 5.1%.

Shares of Talisman Energy Inc. fell 4.8% after the company reported that second-quarter net income tumbled 85% to $63 million. Talisman shares closed at $16.27, down 82 cents.

Also lower was Petro-Canada, down 3.7% to $42.71, and EnCana Corp., down 2% to $55.76.

Materials stocks finished down 1.7% after gold futures retreated for a second consecutive day. Gold for August delivery declined by US$11.90, or 1.3%, to end at US$927.20 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index dipped 1.7%.

Shares of Teck Resources Ltd. dropped by $1.05, or 4%, to close at $25.32.

Inmet Mining Ltd. tumbled 6.3%, a day after the company reported that lower sales volumes and weaker metals prices drove down profits and revenues in the second quarter. The company’s shares fell $2.81 to $42.23.

Also lower was First Quantum Minerals Ltd., down 3.8% to $63.88, and Agnico-Eagle Mines Ltd., off 2.4% to $56.85.

Financial stocks displayed mixed results on Wednesday, but as a group, finished the day down by 0.5%.

Lower for the day was Sun Life Financial Inc., down $1.71, or 4.6%, to $35.88.

Shares of TMX Group Inc. dropped 4.7% after the company reported that second-quarter net income fell 5% to $46.9 million. TMX shares closed at $33.55, down $1.65.

Higher on Wednesday was Industrial Alliance Insurance and Financial Services Inc., which gained 3.8% a day after reporting that second-quarter net income fell 49% $32.1 million. The company’s shares rose $1.08 to close at $29.34.

Shares of Onex Corp. gained 1.3% to $19.96 and Canadian Western Bank rose 1.8% to $17.20.

The junior S&P/TSX Venture composite index finished higher on Wednesday, after adding 3.63 points, or 0.3%. It closed at 1,131.74.

The Canadian dollar finished lower for a second day, giving back two-thirds of a cent to close at US91.68¢.

In New York, the main stock market indices finished with mild losses after Wednesday’s session, with the bulk of losses among energy stocks.

The Dow Jones industrial average lost 26 points, or 0.3%, to end at 9,070.72.

The S&P 500 index closed down 4.47 points, or 0.5%, to close at 975.15.

The Nasdaq composite index finished at 1,967.76, down 7.75 points, or 0.4%.

IE