After showing a notable decline at the open, stocks have seen continued weakness over the course of morning trading on Tuesday. The major averages have remained firmly in negative territory, partly offsetting the standout gains posted in the previous session.
Weakness has emerged in a variety of sectors, with airline stocks posting notable losses after seeing considerable strength in the previous session. A disappointing forecast from a leading industry group is contributed to the weakness in the sector.
Resource stocks are also under pressure amid decreases in most major commodities prices, with gold stocks posting steep losses as the price of the precious metal falls more than $30 an ounce. Natural gas and oil service stocks are also posting notable losses.
While significant weakness is also visible among banking, trucking, semiconductor, and health insurance stocks, some computer hardware stocks have shown a strong move to the upside. Palm (PALM) is helping to lead the hardware sector higher, rising 10.8 percent.
The major averages have moved well off their worst levels of the day in recent trading, although they remain stuck in the red. The Dow is currently down 54.80 at 7,721.06, the Nasdaq is down 20.60 at 1,535.17 and the S&P 500 is down 7.07 at 815.85.