Stocks Down Sharply in Late Trading; Dow Jones and S&P 500 headed for a Fourth Straight day of Decline
Stocks are down sharply in late trading, with the Dow Jones and the S&P 500 headed for a fourth consecutive day of decline. Stocks have been pushed lower on continued concerns over the weakening U.S. economy.
The Dow Jones is currently trading 0.41% lower at 12,101.92, the S&P 500 is currently trading 0.93% lower at 1,288.09, and the Nasdaq is currently trading 0.95% lower at 2,706.91.
All sectors in the S&P 500 are down sharply in late trading. Energy stocks have been the worst performers in the S&P 500 in late trading. At last check, Energy stocks were down 1.56%. Financials are also down sharply in late trading today. At last check, Financials were down 1.43%. Basic Materials stocks are currently trading 1.07% lower. Transportation stocks are currently trading 1.22% lower.
Southern Copper Corporation (NYSE: SCCO) shares have been among the major losers in trading today. The stock is falling after Ollanta Humala won the presidential election. Humala had said earlier that he plans to raise taxes on mining companies. Southern Copper, which has substantial mining operation s, is expected to be under pressure from the new Peruvian president. At last check, Southern Copper shares were down 10.71% lower at $31.
Other major losers in late trading are Exelixis Inc. (NASDAQ: EXEL), which is currently trading 19.19% lower at $8.80, Credicorp Ltd. (NYSE: BAP), which is currently trading 18.82% lower at $82.54, and Gen-Probe Incorporated (NASDAQ: GPRO), which is currently trading 12.21% lower at $71.78.
Apple Inc. (NASDAQ: AAPL) shares are also lower in late trading after the company unveiled the iCloud® service at its annual worldwide developers’ conference. At last check, Apple shares were down 1.41% to $338.61.
Among the major gainers in late trading are Harley-Davidson Inc. (NYSE: HOG), which is currently trading 2.68% higher at $36.83, and Sealed Air Corp. (NYSE: SEE), which is currently trading 2.47% higher at $22.43.
