It was pressured by a 6.1% drop in the shares of Agnico Eagle MinesAEM.TO as TD Securities cut its target price on the stock after the release of quarterly results. U.S. benchmark the S&P 500 also fell as investors worried that inflation and a strong U.S. economy could put the Federal Reserve on pace for more interest rate hikes. The Toronto market's energy sector fell 3.5% as the price of oil settled 2.7% lower at $76.34 a barrel, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 1.7%.