Selling was broad and all ten S&P500 industry sectors lost ground, including: oil and gas (-1.7%), technology (-1.5%), consumer services (-1.4%), basic materials
(-1.4%), consumer services (-1.4%), consumer goods (-1.3%), industrials (-1.2%), health care (-1.2%), telecommunications (-1.0%), financials (-0.8%), and utilities (-0.2%).
Only four DJIA components managed gains. Bank of America (NYSE:BAC) rose 1.7% after a 7.1% plummet on Wednesday. Boeing (NYSE:BA) gained 1.2%; the Pentagon’s second-largest supplier announced plans to restructure its defense operations, eliminating 30% of management posts from levels of 2012 and closing California facilities in cost-cutting efforts. Laggards were lead by Cisco (NASDAQ:CSCO), off 2.2%, United Tech (NYSE:UTX), off 2% and McDonalds (NYSE:MCD), down 2%. |