The Globe and Mail reports in its Thursday edition that Canada's benchmark index fell the most in four months Wednesday as investors weighed elevated bond yields and trade uncertainty, with financial and metal mining shares leading declines. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended down 607.65 points, or 1.7 per cent, at 35,041.86, its steepest decline since June 5 and the lowest closing level in two-and-a-half months. Wall Street also closed lower after both the S&P 500 and Nasdaq reached record highs on Tuesday. The U.S. 10-year bond, a global benchmark for long-term borrowing costs, touched a fresh 24-year high before clawing back some of their increase on a strong auction of new bonds. Toronto's materials sector declined 2.9 per cent as gold dropped to a two-month low. A stronger U.S. dollar, along with elevated U.S. Treasury yields, reduced the appeal of the non-yielding metal. Heavily weighted financials were down 2.3 per cent as major bank stocks posted declines. "As this tariff uncertainty continues, you're going to see more and more downward pressure materialize for consumers and businesses and that's going to weigh down on financials," said Michael Dehal at Raymond James.