(Updates after market close)

By Fergal Smith

TORONTO, Nov 13 (Reuters) - Canada's main stock index

posted its biggest decline in seven months on Thursday, with

technology shares leading broad-based declines as the market

pulled back from a record high.

The S&P/TSX composite index ended down 573.94

points, or 1.9%, at 30,253.64, after posting a record high

closing level on Wednesday.

"I think the fact that stocks are retreating from record

highs has to do with renewed concerns about elevated valuations

and Fed policy," said Angelo Kourkafas, a senior global

investment strategist at Edward Jones.

Wall Street also ended sharply lower, with steep losses in

Nvidia and other AI heavyweights, as investors scaled back

expectations of Federal Reserve interest rate cuts due to

inflation worries and divisions among central bankers about the

U.S. economy's health.

The Toronto market's technology sector fell 5.6%,

with shares of electronic equipment firm Celestica Inc ( CLS )

down 12.3%.

Shares of Northland Power Inc ( NPIFF ) posted an even steeper

decline, losing 27.2%, after the renewable electricity firm

missed quarterly earnings estimates.

The utilities sector was down 1.5%. Materials

, which includes metal mining shares, ended 2.1% lower

as the price of gold fell.

"It's a sector that has been momentum driven and a lot of

that is unwinding today," Kourkafas said.

Heavily weighted financials dropped 1.6%, with

shares of Brookfield Corp ( BN ) falling 6.5% after the global

investment firm reported quarterly results.

Manulife Financial ( MFC ) beat analysts' quarterly profit

estimates, boosted by strong business in Asia and Canada. Its

shares rose 0.1% to notch another record closing high.

Linamar Corp ( LIMAF ) was another bright spot, with its

shares adding 5.3% after the auto parts maker beat third-quarter

sales estimates.