The Globe and Mail reports in its Thursday edition that Canada's main stock index fell to a near two-week low on Wednesday as the price of oil moved back toward its level before the start of the Iran war. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended down 191.29 points at 34,736.09. Nasdaq and S&P 500 also ended lower as concerns about high-flying tech stock valuations persisted. West Texas Intermediate crude settled 3.9 per cent lower at $70.34 (U.S.) a barrel as more stranded oil tankers exited the Strait of Hormuz; Brent crude touched a low of $73.12 (U.S.). Toronto's energy sector was down 3.2 per cent, while the materials group, which includes metal-mining stocks, ended 3.7 per cent lower. The price of gold fell 2.6 per cent and copper was down 3.4 per cent as rising expectations of U.S. Federal Reserve interest rate hikes boosted the U.S. dollar. Shares of NovaGold Resources tumbled 14.4 per cent as the company reported a wider second-quarter net loss. Still, the Toronto Stock Exchange's technology sector was up 3.3 per cent as shares of Shopify gained 6.1 per cent. Consumer staples was another standout, adding 2.4 per cent. Seven of the TSX's 10 major sectors notched gains.