Toronto stocks slipped ever so slightly Tuesday as weaker than expected consumer confidence numbers coming out of the United States spooked investors.

The 300 composite index dipped 3.9 points to close at 7,462.60.

Overall, eight of the TSE’s 14 sub-indices were down, although none more than 1%. The influential industrial products sub-index slipped 0.7%, while Utilities dropped 0.6%.

Gold stocks were the day’s biggest winners, with the gold sub-index gaining 2.5%. The financial services index eked out a small gain, rising 0.1%.

The 50 basis point cut to Canadian interest rates announced this morning by the Bank of Canada failed to stem the selling that arose following the release of U.S. consumer confidence numbers for November.

The Conference Board’s Consumer Confidence Index hit a seven-year low, falling to 82.2. Economists had expected it to rise to 87.9.

Nortel Networks was once again the most active issue on the TSE. The stock slipped 15¢ to $12.58, on a volume of 9 million shares.

Number two trader Bombardier gained 21¢ to $13.90.

Wireless technology developer Cell-Loc plunged 22% to $2.53 after reporting a first quarter loss.

Market momentum was broadly negative with declining issues stepping on advances 585 to 487. Volume was average at 143 million shares.

Bank of Montreal advanced 65¢ to $36.91 after releasing its fourth quarter results today. The bank’s fourth quarter profits dropped, as it raised credit loss provisions to $414 million after-tax.

CIBC slipped 40¢ to $54.10 after reporting lower fourth quarter earnings on Monday. TD Bank fell 14¢ to $39.56.

Among gold stocks, Franco-Nevada added 19¢ to $22.95, while Barrick Gold advanced 75¢ to $23.45.

In New York, the Dow Jones industrial average lost 110.15 points, or 1.1%, to 9,872.60. Blue chips struggled for the entire session after a disappointing reading on U.S. consumer confidence. The Conference Board’s Consumer Confidence Index hit a seven-year low in November.

The Nasdaq composite index fell 5.26 points to 1,935.97, and the S&P 500 was off 7.92 points at 1,149.50.