The weakness on
Despite the notable pullback by the broader markets, most of the major sectors have shown only modest moves to the downside.
Gold stocks are seeing significant weakness, however, with the NYSE Arca Gold Bugs Index down by 1.2% on the day.
The weakness among gold stocks comes despite an increase by the price of the precious metal, as gold for August delivery is climbing
Telecom, natural gas, and banking stocks are also seeing some weakness on the day, although selling pressure has remained relatively subdued.
The major averages have climbed well off their worst levels of the day but currently remain in negative territory. The Dow is down 71.69 points or 0.4% at 17,028.49, the Nasdaq is down 16.24 points or 0.4% at 4,415.91 and the S&P 500 is down 8.26 points or 0.4% at 1,969.96.
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