While many of the major sectors have climbed well off their worst levels of the day, significant weakness remains visible among brokerage stocks. The NYSE Arca Broker/Dealer Index is down by 1.6% after hitting its worst intraday level in a month.
Oil service stocks also continue to see considerable weakness in mid-day trading, with the Philadelphia Oil Service Index down by 1.2%. The weakness among oil service stocks comes as crude for August delivery has fallen
Steel, banking, and networking stocks are also seeing notable weakness on the day, while gold stocks have shown a strong move to the upside.
Currently, the major averages continue to post notable losses. The Dow is down 104.71 points or 0.6% at 16,880.90, the Nasdaq is down 31.20 points or 0.7% at 4,387.84 and the S&P 500 is down 11.16 points or 0.6% at 1,961.67.
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