RTTNews - Stocks have seen considerable volatility over the course of morning trading on Tuesday, with the major averages having difficulty sustaining any significant moves and subsequently bouncing back and forth across the unchanged line.
The choppy trading comes even as traders digest some better than expected economic data, including a report from the Institute for Supply Management showing an expansion in manufacturing activity in August following eighteen consecutive months of contraction.
Financial stocks have come under pressure in recent trading, contributing to a pullback by the broader markets. Within the sector, brokerage stocks are helping to lead the way lower after trending higher in recent sessions.
Significant weakness has also emerged in a variety of other sectors, with airline, biotechnology, and gold stocks posting notable losses. The losses by gold stocks come amid a pullback by the price of the precious metal.
The major averages have shown a notable move to the downside in recent trading, falling to new lows for the session. The Dow is currently down 106.63 at 9,389.65, the Nasdaq is down 15.38 at 1,993.68 and the S&P 500 is down 11.54 at 1,009.08.
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