RTTNews - After showing a steep decline at the open, stocks have seen continued weakness over the course of morning trading on Monday. The major averages have all moved firmly in negative territory, more than offsetting last week's modest gains.
Significant weakness has emerged in a variety of sectors, with traders cashing in on the recent strength in the markets amid a notable decrease in commodities prices as well as some strength in the value of the U.S. dollar.
Railroad stocks are posting particularly steep losses in late morning trading, dragging the Dow Jones Railroad Index down 6.4 percent. CSX Corp. (CSX) is helping to lead the way lower, with the railroad operator currently down 7.8 percent.
Steel, real estate, and oil service stocks are also among the worst performers on the day, with the weakness among oil service stocks coming as the price of crude oil has pulled back below the $70 a barrel level.
The major averages have continued to move lower in the past few minutes, once again falling to new lows for the session. The Dow is currently down 214.48 at 8,584.78, the Nasdaq is down 54.13 at 1,804.67 and the S&P 500 is down 24.54 at 921.67.
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