Canadian investors sent Toronto stocks tumbling more than 100 points today. A report of stronger than expected U.S. retail sales overshadowed a Bank of Canada rate cut. Instead, it caused fear that the U.S. Federal Reserve may raise interest rates sooner than expected.

It also buoyed the American dollar, sending bullion prices tumbling to four-week lows. Gold issues were the main anchor in Toronto, pulled down by the falling bullion prices.

In Toronto, the S&P/TSX composite index fell 135.19 points, or 1.52%, to 8,763.58 on volume of 256.6 million shares worth $3.66 billion.

Toronto’s gold sub-sector shed 6.08%. Barrick Gold Corp., Placer Dome, Meridian Gold and Goldcorp all fell more than 6%.

And all 10 of the TSX’s main subgroups ended lower, led by a 3.94% fall by the materials group. The techs, financials, telecoms, utilities and health-care sectors lost more than 1%.

The tech group fell 1.82%. Sierra Wireless fell $2.90, or 4.81%, to $57.40. Software maker Open Text Corp dropped $1.29, or 3.06%, at C$40.80.

The S&P/TSX 60 fell 7.30 points, or 1.48%, to 486.98. The venture exchange dropped 59.18 points to 1,813.55.

In New York, stocks were also hard hit by the adverse impact of the positive retail sales report. The Dow Jones industrial average fell 133.64 points, or 1.27%, to 10,381.92 while the Nasdaq Composite Index lost 35.40 points, or 1.71%, to 2,030.08. The Standard & Poor’s 500 Index dipped 15.78 points, or 1.38%, to 1,129.42.