RTTNews - Stocks are seeing some further downside in late morning trading on Tuesday, with the major averages moving more firmly into negative territory. Traders continue to cash in on recent gains amid a lack of significant news.
Banking stocks continue to help to lead the way lower, dragging the S&P Banks Index down 4.8 percent. With the loss, the index is pulling back further off the seven-month closing high that it set last Friday.
Significant weakness has also emerged in a variety of other sectors, reflecting broad based selling pressure. Commercial real estate, housing, and airline stocks are posting particularly steep losses after trending higher for much of the past month.
In the past few minutes, the major averages have edged up off their new lows for the session, although they remain firmly negative. The Dow is currently down 109.81 at 9,228.14, the Nasdaq is down 29.06 at 1,963.18 and the S&P 500 is down 13.78 at 993.32.
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