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
- Businesses, Investors Pressing for Green Policy
- Who's Next? More Nude Celeb Pics Hacked, Leaked
- Tips for Hiding, Securing Data on Smartphones
- Hispanic Enterprises Drive U.S. Economy
- Fed in No Rush to Raise Interest Rates
- ISIS Calls for Jihad Against 'Filthy French'
- Would You Trade Privacy for Job Security?
- Lower Used-Car Prices Roil the Auto Industry
- Cristela Gets a Big Thumbs Up
- Iran Says Syria Strikes Illegal