RTTNews - Stocks are seeing continued weakness in late morning trading on Monday, with the major averages stuck in negative territory after showing a notable decline earlier in the session. Renewed concerns about the outlook for the economy have helped to keep stocks in the red.

Significant weakness remains visible among resource stocks, which are moving lower along with commodities prices. Gold stocks are posting particularly steep losses, dragging the NYSE Arca Gold Bugs Index down 4.7 percent.

A variety of other sectors have also shown notable moves to the downside over the course of the trading day, with semiconductor, housing, and healthcare provider stocks posting notable losses.

On the other hand, tobacco stocks are bucking the downtrend by the broader markets, resulting in a 2.1 percent gain by the NYSE Arca Tobacco Index.

The major averages have moved off their worst levels of the day in recent trading, although they currently remain firmly negative. The Dow is currently down 39.38 at 8,241.36, the Nasdaq is down 20.59 at 1,775.93 and the S&P 500 is down 5.71 at 890.71.

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