Stocks Extend Losses in Late Trading; Dow Jones Sheds More than 350 Points




Stocks have extended their losses in late trading, with all three major indexes near session lows. Investors are continuing to take risk off the table as they remain worried about the debt crisis in Italy. Earlier today, yields on 10-year Italian bonds crossed the significant 7% mark.

At last check, the Dow Jones was trading 3.14% lower at 11,788.47, the S&P 500 was trading 3.47% lower at 1,231.59, and the Nasdaq was trading 3.61% lower at 2,628.59.


All sectors in the S&P 500 are trading near their sessions lowers. Basic Materials stocks are leading the losses in the S&P 500 in late trading. At last check, Basic Materials stocks were trading 4.37% lower. Energy stocks, meanwhile, have also fallen sharply. At last check, Energy stocks were trading 4.25% lower.

Among the major losers in the Basic Materials and Energy sector in late trading are Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), which is currently trading 7.33% lower at $38.82, Newmont Mining Corporation (NYSE: NEM), which is currently trading 2.60% lower at $69.75, United States Steel Corporation (NYSE: X), which is currently trading 6.97% lower at $25.62, Exxon Mobil Corporation (NYSE: XOM), which is currently trading 2.68% lower at $77.62, and Chevron Corporation (NYSE: CVX), which is currently trading 4% lower at $104.51.

Other major losers in late trading include Rovi Corporation (NASDAQ: ROVI), which is currently trading 37.03% lower at $28.98, Ralph Lauren Corporation (NYSE: RL), which is currently trading 7.02% lower at $147.88, and General Motors Company (NYSE: GM), which is currently trading 10.02% lower at $22.53.

Among the major gainers in trading currently are KIT Digital Inc. (NASDAQ: KITD), which is currently trading 33.13% higher at $11.13, SodaStream International Limited (NASDAQ: SODA), which is currently trading 7.01% higher at $36.50, and Universal Display Corporation (NASDAQ: PANL), which is currently trading 3.40% higher at $51.12.

 


edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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