TORONTO (Reuters) - Toronto's main stock index fell yesterday, breaking a five-day streak of gains, as energy and financial issues sank on scepticism about whether the US bad-debt plan, released yesterday, will be sufficient to bring health back to that country's financial system.

The energy sector, down 4.4 percent, led the TSX lower as oil dropped five percent to settle at $37.55 a barrel amid doubts about the bank rescue plan's prospects for success. Oil company EnCana dropped 4.4 percent to C$55.31.

The heavily weighted financial group dropped nearly four percent. Insurer Manulife Financial was down 5.9 percent at C$20.09, and Royal Bank of Canada fell 3.5 percent to C$30.70.

"It's a classic buy on hope, sell on reality sort of scenario," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver. "There continues to be considerable scepticism about what governments can do to combat this crisis."

The steep sell-off came as the US Treasury unveiled a revamped financial rescue plan yesterday morning to mop up spoiled assets from banks' books and revive consumer lending.

Major US stock indexes fell hard after Treasury Secretary Timothy Geithner's announcement of the plan because, analysts said, the market had hoped for more details.

"There's a lot of disappointment in Timothy Geithner's speech," Mr. Picardo said. "It was a little short on specifics."

The S&P/TSX composite index closed down 229.39 points, or 2.54 percent, at 8,817.89, with nine of its 10 main groups lower.

The drop was the index's steepest one-day percentage loss in just over two weeks, according to Thomson Reuters data.

The resource-laden materials group was the only sector in the black, climbing 0.3 percent with the help of rising gold prices.

Miner Barrick Gold rose 0.8 percent to close at C$46.19, while Agnico Eagle climbed 2.3 percent to C$66.