25.08.2015 22:25:56

Major Averages Pull Back Sharply After Seeing Early Strength

(RTTNews) - After moving sharply higher at the start of trading on Tuesday, stocks erased the early gains over the course of the session before closing notably lower. The pullback on the day extended the sell-off seen in recent sessions.

Gold stocks saw substantial weakness throughout the session, resulting in a 4.3 percent loss by the NYSE Arca Gold Bugs Index. With the drop, the index pulled back further off the one-month closing high set last Thursday.

The weakness among gold stocks came amid a decrease by the price of the precious metal, with gold for December delivery falling $15.30 to $1,138.30 an ounce.

Significant weakness also emerged among housing stocks, as reflected by the 3 percent loss posted by the Philadelphia Housing Sector Index. The decrease pulled the index down to its lowest closing level in well over three months.

Utilities, railroad, commercial real estate, and natural gas stocks also came under pressure on the day, moving lower along with most of the other major sectors.

The major averages ended the session near their worst levels of the day. The Dow tumbled 204.91 points or 1.3 percent to 15,666.44, the Nasdaq fell 19.76 points or 0.4 percent to 4,506.49 and the S&P 500 slid 25.59 points or 1.4 percent to 1,867.62.

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!