The Dow fell 1.79 percent to 17,089.67, while the NASDAQ composite index slipped 2.60 percent to 4,585.47. The broader Standard &
Poor's 500 index dropped 2.08 percent to 1,995.12.
The worst performing industries in the market today are:
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Foreign Money Center Banks: This industry slipped 9.8 percent by 11:00 am. The worst stock within the industry was
Barclays PLC (ADR) (NYSE: BCS), which fell 22
percent. BofA/Merrill Lynch downgraded Barclays from Buy to Neutral, while JP Morgan also downgraded the stock to Neutral.
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Home Furnishing Stores: This industry declined 5.5 percent by 11:00 am with Williams-Sonoma, Inc. (NYSE:
WSM) moving down 7.3 percent. Williams-Sonoma shares have
declined 35.24 percent over the past 52 weeks, while the S&P 500 index has dropped 0.99 percent in the same period.
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Appliances: This industry fell 5.4 percent by 11:00 am ET. Whirlpool Corporation (NYSE: WHR) shares dropped 5.1 percent in today's trading. Whirlpool shares have dropped
6.45 percent over the past 52 weeks, while the S&P 500 index has slipped 0.99 percent in the same period.
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Investment Brokerage - Regional: The industry dropped 5.2 percent by 11:00 am. The worst performer in this industry was
Greenhill & Co., Inc. (NYSE: GHL), which declined
9.1 percent.
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