The Raptors had won their last 15 games, the most in Canadian-based professional franchise history, but a poor performance saw them go down 101-91.
Caris LeVert scored 20 points for the Nets as they snapped a six-game losing streak against the Raptors.
LeBron James led Western Conference leaders Los Angeles Lakers to a 120-116 overtime with against the Denver Nuggets.
James continued his sparkling form, with a triple-double consisting of 32 points, 12 rebounds and 14 assists – which included a stunning slam dunk.
It was his 12th of the season while Antony Davis scored seven points in overtime to help the Lakers stretch their lead over the Nuggets at the top of the table.
The Milwaukee Bucks felt the absence of reigning MVP Giannis Antetokounmpo as they went down 118-111 to the Indiana Pacers.
Antetokounmpo is on paternity leave following the birth of his son and the Pacers benefited as they ended a run of six successive defeats.
Devin Booker's 27 points led the Phoenix Suns to a 112-106 win over the Golden State Warriors, the same tally Brandon Clarke posted in the Memphis Grizzlies' 111-104 victory against the Portland Trailblazers.
The Cleveland Cavaliers finally ended their home misery by beating the Atlanta Hawks 127-105, stopping a 14-game home court losing streak.
The Orlando Magic earned a 116-112 overtime win against the Detroit Pistons, the Washington Wizards were too strong for the New York Knicks in a 114-96 victory while the Charlotte Hornets downed the Minnesota Timberwolves 115-108.
There were also wins for the Dallas Mavericks and Utah Jazz.