(Updated at 10:21 a.m. ET)

* TSX down 0.2%

* Energy stocks touched more than one-week lows

* Materials stocks mark biggest fall in over three weeks

* Canadian dollar strengthens, benchmark yield climbs

Oct 23 (Reuters) - Canada's main stock index fell to a two-week low on Monday as weaker commodity prices sparked a sell-off in energy and material sectors, while rising government bond yields kept equities under pressure.

At 10:21 a.m. ET (14:21 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 45.01 points, or 0.24%, at 19,070.63, set for fourth consecutive session of losses.

The energy sector lost 0.9% after oil prices fell over $1 per barrel as investors assessed diplomatic efforts, which attempt to contain the geopolitical turmoil in the Middle East.

Top decliner, material sector, which includes precious and base metals miners and fertilizer companies, fell 1.2%, tracking prices of most metals.

Gold prices came off five-month highs following a spike in Treasury yields, while copper prices tumbled to eleven-month lows on China's property crisis and receding hopes of stronger stimulus in the top consumer of industrial metals.

The U.S. 10-year Treasury yield breached 5% and touched its highest since 2007, while Canadian government 10-year bond yields rose to 4.134%.

Rate-sensitive real estate sector fell 0.7%, while the information technology sector was down 0.4%.

The healthcare sector dropped 0.9%, hitting its lowest levels in more than three months.

Investors also braced for Bank of Canada's interest rate decision, due Wednesday. The central bank is expected to hold rates at a 22-year high of 5.00%, according to a majority of economists polled by Reuters.

It follows last week's data that showed Canada's retail sales fell by 0.1% in August from July and look set to stay flat in September, cementing hopes of a pause in interest rates.

"The consumer is in a relatively OK position, but inflationary pressures have started to take a bite out of discretionary spending so the BoC are likely to hold here," said Mike Archibald, portfolio manager at AGF Investments.

Dye & Durham fell 6.5% to the bottom of the index, following a cut in stock's price target by Cormark Securities and CIBC. (Reporting by Khushi Singh in Bengaluru; Editing by Shweta Agarwal)