After showing a lack of direction throughout much of the morning, stocks have shown a notable move to the downside in recent trading on Thursday. The major averages have moved more firmly into negative territory after bouncing back and forth across the unchanged line.
Semiconductor stocks are helping to lead the way lower after seeing considerable strength in the previous session. The Philadelphia Semiconductor Index is currently down 3.7 percent, partly offsetting the 4.3 percent gain it posted on Wednesday.
Significant weakness has also emerged among housing, electronic storage, and health insurance stocks. Oil service stocks have also shown a notable move to the downside despite a modest increase by the price of oil.
On the other hand, gold stocks are holding onto strong gains amid a notable increase by the rice of the precious metal.
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 67.70 at 7,818.87, the Nasdaq is down 16.13 at 1,629.99 and the S&P 500 is down 6.71 at 836.84.
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