Airline stocks showed a substantial move to the downside following news of a plane crash in
Considerable weakness also emerged among natural gas stocks, as reflected by the 2.6% loss posted by the NYSE Arca Natural Gas Index. The weakness in the sector came as natural gas for August delivery fell
Semiconductor stocks also saw significant weakness on the day, dragging the Philadelphia Semiconductor Index down by 2.5%.
Biotechnology, housing, steel, and computer hardware stocks also moved notably lower, reflecting broad based selling pressure.
Meanwhile, gold stocks bucked the downtrend by the broader markets, moving higher along with the price of the precious metal. With gold for August delivery climbing
The major averages closed firmly in negative territory but off their lows for the session. The Dow dove 161.39 points or 0.9% to 16,976.81, the Nasdaq plunged 62.52 points or 1.4% to 4,363.45 and the S&P 500 tumbled 23.45 points or 1.2% to 1,958.12.
Most Popular Stories
- Hispanic NASCAR Driver Ready to Make History
- James Foley Killer Could Be ID'd Via Social Media, Voice Recognition
- Bank of America Agrees to Pay Record $16.65 Billion
- Stocks Moving Higher Again for 4th Day
- U.S. Existing Home Sales Rise 4th Month Straight
- Florida's Largest Insurer Says 'Bailout' Attacks Unfair
- Swiss Suicide Tourism Doubled Since 2009
- U.S. Veteran Killed Fighting in Ukraine
- Family Dollar Will Stick With Dollar Tree
- Sears Holdings Loses $573 Million