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Stocks Sharply Lower in Mid-Day Trading

Tuesday, October 23, 2012 1:10 PM
Stocks are down sharply in mid-day trading today, with all three major indexes currently near session lows. Stocks slipped in trading today as investors digested some disappointing corporate earnings reports. Investors’ sentiment has also been weighed down by concerns over Spain’s economy. At last check, the Dow Jones was trading 1.66% lower at 13,124.11, the S&P 500 was trading 1.34% lower at 1,414.59, and the Nasdaq was trading 0.62% lower at 2,998.02. All sectors in the S&P 500 are currently are in red in mid-day trading. Energy sector is leading the losses in the S&P 500 in trading currently. At last check, the sector was down 2.33%. Basic Materials sector is also down sharply in mid-day trading. At last check, the sector was trading 2.09% lower. Conglomerates are currently trading 2.08% lower. Financials are down 1.63% in mid-day trading today. Industrials are down 1.24%. DuPont (NYSE: DD) shares have been among the major losers in trading today. DD shares fell after the company reported weaker than expected earnings for the third quarter. The company also announced an aggressive cost-cutting measure and said that it will eliminate 1,500 jobs. DD shares hit an intra-day low of $45.10 in trading today. At last check, the stock was trading 8.62% lower at $45.47. Other major gainers and losers in trading currently are Monster Beverage Corp. (NASDAQ: MNST), which is currently trading 10.15% lower at $41.09, Yahoo! Inc. (NASDAQ: YHOO), which is currently trading 5.77% higher at $16.69, 3M Co. (NYSE: MMM), which is currently trading 3.72% lower at $89.09, ARM Holdings Plc (ADR) (NASDAQ: ARMH), which is currently trading 10.38% higher at $31.04, Xerox Corp. (NYSE: XRX), which is currently trading 5.97% lower at $6.61, and Coach Inc. (NYSE: COH), which is currently trading 8.49% higher at $58.77.  

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