26.03.2014 21:29:20

Major Averages Close At Worst Levels Of The Day

(RTTNews) - After failing to sustain an initial upward move, stocks moved notably lower over the course of the trading day on Wednesday. The major averages more than offset the gains posted in the previous session, with the Nasdaq falling to its lowest closing level in well over a month.

Gold stocks moved sharply lower over the course of the trading day, dragging the NYSE Arca Gold Bugs Index down by 3.7 percent. The drop extended a recent downward trend by the index, which ended the session at its worst closing level in well over a month.

The weakness among gold stocks came amid a decrease by the price of the precious metal, with gold for April delivery falling $8 to $1,303.40 an ounce.

Significant weakness also emerged among biotechnology stocks, which were also adding to recent losses. The NYSE Arca Biotechnology Index tumbled by 2 percent and also hit a monthly closing low.

Electronic storage stocks also saw considerable weakness on the day, resulting in a 2 percent drop by the NYSE Arca Disk Drive Index. Hutchinson Technology (HTCH) and Imation (IMN) turned in two of the sector's worst performances.

Most of the other major sectors also came under pressure as the day progressed, with brokerage, transportation and networking stocks posting notable losses.

The major averages saw further downside going into the close, ending the session at their worst levels of the day. The Dow fell 98.89 points or 0.6 percent to 16,268.99, the Nasdaq tumbled 60.69 points or 1.4 percent to 4,173.58 and the S&P 500 slid 13.06 points or 0.7 percent to 1,852.56.

Eintrag hinzufügen
Hinweis: Sie möchten dieses Wertpapier günstig handeln? Sparen Sie sich unnötige Gebühren! Bei finanzen.net Brokerage handeln Sie Ihre Wertpapiere für nur 5 Euro Orderprovision* pro Trade? Hier informieren!
Es ist ein Fehler aufgetreten!