With traders expressing concerns about the economic impact of an outbreak of swine flu, stocks moved notably lower at the start of trading on Monday. The major averages all moved firmly into negative territory after turning in a mixed performance last week.
Airline stocks are turning in some of the worst performances, as concerns about swine flu are expected to reduce global travel. While oil service, steel, and real estate stocks are also under considerable pressure, some strength is visible in the pharmaceutical sector.
The major averages are currently posting steep losses, just off their lows for the young session. The Dow is currently down 84.98 at 7,991.31, the Nasdaq is down 17.04 at 1,677.25 and the S&P 500 is down 9.89 at 856.34.
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