RTTNews - Stocks moved sharply lower at the start of trading on Monday, with the major averages more than offsetting the modest gains posted last week. The initial weakness came as traders cashed in on recent gains amid some uncertainty about the near-term outlook for the markets.
With commodities prices moving mostly lower, resource stocks are seeing considerable weakness in early trading. Significant weakness has also emerged among healthcare provider, transportation, and housing stocks.
In the past few minutes, the major averages have edged up off their lows for the young session, although they remain firmly negative. The Dow is currently 114.12 at 8,685.14, the Nasdaq is down 21.34 at 1,837.46 and the S&P 500 is down 13.30 at 932.91.
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