Stocks Slide, Oil Rises Above $110
An afternoon slide saw stocks erase early gains to close in the red. The Dow fell -49.57, the Nasdaq Composite -11.89, and the S&P 500 -11.88.
Crude oil rose above $110 per barrel, another record high, as the dollar fell to a record low versus the euro.
Airline stocks witnessed heavy selling on Wednesday; Alaska Air
(
ALK |
Quote |
Chart |
News |
PowerRating) fell -18.4%, Delta Air Lines
(
DAL |
Quote |
Chart |
News |
PowerRating) dropped -16.4%, and Northwest Airlines
(
NWA |
Quote |
Chart |
News |
PowerRating) lost -16.2%. AMR Corp. and Continental Airlines declined -12.8% and -9.6% respectively.
Humana
(
HUM |
Quote |
Chart |
News |
PowerRating) fell nearly 14% after the company lowered guidance.
Southwest Airlines
(
LUV |
Quote |
Chart |
News |
PowerRating) dropped -7.3% after the company grounded 41 planes.
Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) gained 3.6% after the company issued guidance in-line with estimates.
| Market Snapshot | ||||||||||||
|
| Economic News |
|
|