At midday: Stocks plunge a day after biggest gain of year
As rimington posted, HBK has been doing very well and holding ...... . NEW YORK - North American stocks are falling sharply in midday trading, a day after the market had its biggest gain of the year. The S&P TSX fell 169.5 points, or 1.16 per cent, to 14,496.94 on Thursday afternoon, it's lowest level since May of this year. The Dow Jones industrial average dropped 223 points, or 1.3 per cent, to 16,774, while the Standard and Poor's 500 fell 25 points, or 1.3 per cent, to 1,943 and the Nasdaq composite fell 54 points, or 1.2 per cent, to 4,414. Energy stocks dropped as the price of crude oil fell again. Benchmark U.S. crude fell $1.02 to $86.28 (U.S.) a barrel. Exxon Mobil fell the most in the Dow. Stocks jumped Wednesday after minutes from the Federal Reserve's latest meeting indicated the central bank was in no hurry to raise interest rates.