The benchmark index of the Toronto Stock fell on Tuesday as weaker bank shares offset a rally in commodities.

The S&P/TSX composite index closed down 55.52 points, or 0.42%, at 13,063.85. Eight of the 10 TSX main groups finished lower

The materials and energy sectors were the only two groups to make gains, rising 1.8% and 2.1%, respectively.

Canadian Natural Resources was up 3.3% at $82.27, while Agnico-Eagle Mines climbed 4.5% to $57.42.

The financial sector led the way down, dropping 3.2%.

CIBC fell 3% to $58.45, while TD Bank lost 4.7% to $59.00.

The junior S&P/TSX Venture composite index fell 21.91 points, or 1.14%, to 2,901.73.

The Canadian dollar edged up 0.29¢ to finish at US94.25¢.

In New York, U.S. stocks fell for a second straight session as a government report showed inflation remains a threat despite slower growth.

The Dow Jones industrial average fell 130.84 points, or 1.14%, to 11,348.55. The S&P 500 slid 11.91 points, or 0.93%, to 1,266.69. The Nasdaq composite index lost 32.62 points, or 1.35%, to 2,384.36.

Lehman Brothers shares had another dismal day, tumbling 13% after J.P. Morgan Securities forecast that the investment bank will take a further US$4 billion in writedowns tied to losses on mortgage-related investments.

After the closing bell, Hewlett-Packard Co reported a higher quarterly profit and strong sales for its notebook computer and printer business.