* TSX falls 1.94 percent to 9,653.45
* Third triple-digit decline in three days (Adds details, updates numbers)
By Ka Yan Ng
TORONTO, July 8 (Reuters) - Toronto’s main stock index fell on Wednesday for a third straight session as lower commodity prices shook the resource-heavy market, while financials again dropped on doubts about global economic recovery.
The S&P/TSX composite index .GSPTSE booked its third triple-digit decline in a row as hopes for a quick way out of recession faded fast.
“I think this is just a day where we’re seeing another swing as investors get more concerned about how fast growth will be and, as a result, how strong the rebound will be,” said Kate Warne, Canadian market strategist at Edward Jones in St. Louis, Missouri.
The S&P/TSX composite index closed down 190.90 points, or 1.94 percent, at 9,653.45. Nine of the 10 TSX sectors were lower.
The mining-laden materials sector led the retreat with a drop of 3.94 percent as the price of gold sagged as the U.S. dollar strengthened. A stronger U.S. dollar makes the precious metal more expensive for holders of other currencies.
The price of oil, a key driver for the energy-heavy TSX, sank towards $60 a barrel. The TSX index’s energy group shed 1.9 percent.
Manulife Financial (MFC.TO) bucked the trend, rising 0.89 percent to C$19.21 as it said it plans to keep building capital to shield it from volatile markets, and could use the reserves for expansion or acquisitions down the road. [ID:nN08396843]
The consumer staples sector, up 0.52 percent, was the sole sector in higher territory.
$1=$1.17 Canadian Editing by Peter Galloway