CANADA STOCKS-TSX dragged lower by falling commodity prices
* TSX down 2.31 percent at 9,617.16
* Materials sector tumbles 3.6 percent
* Investors shrug off upbeat IMF economic report (Adds details and quotes)
By Nina Lex
TORONTO, July 8 (Reuters) - Toronto's main stock index fell to its lowest level in over a month on Wednesday as a slide in commodity prices dragged the resource-heavy composite down more than 2 percent.
The materials sector led the retreat with a drop of 3.6 percent, as the price of gold fell alongside a stronger U.S. dollar, which makes the precious metal more expensive for holders of other currencies.
"Commodity prices will probably be the continued driving factor in the market for now," said Rick Hutcheon, president and chief operating officer at RKH Investments.
At 11:30 a.m. (1530 GMT), the S&P/TSX composite index .GSPTSE was down 227.19 points, or 2.31 percent, at 9,617.16. Nine of its 10 main groups were lower. Continued...