Sector Snap: Recreational vehicle stocks plunge

Major indexes were down more than 4 percent in afternoon trading, while the Dow Jones industrial average fell as much as 705 points in intraday trading.

RV shares plunged, compounding declines from earlier in the session after a Robert W. Baird analyst downgraded shares of Monaco Coach Corp., Thor Industries Inc. and Winnebago Industries Inc. in a client note.

Shares of Monaco Coach fell 25 cents, or 10.9 percent, to $2.05 after hitting a 12-year low of $2.01 earlier in the day. Thor declined $1.35, or 5 percent, to $25.45. Winnebago lost $1.24, or 9 percent, to $12.61.

The sector's biggest loser was Fleetwood Enterprises Inc., which tumbled 33 cents, or 25 percent, to 99 cents as trading of the stock was halted. In intraday trading, shares touched an all-time low of 95 cents.

Spartan Motors Inc. lost 17 cents, or 4.6 percent, to $3.50. Drew Industries Inc. lost 87 cents, or 4.6 percent, to $18.07 Coachmen Industries Inc. gave up 3 cents to $1.85.