Stocks Headed for Lower Finish

Stocks have extended their losses in late trading, with all three major indexes currently at session lows, as concerns over a hung parliament in Italy have weighed down investors’ sentiment. Stocks had edged higher earlier in the day, however, all three major indexes slipped into red territory after an exit poll showed that Silvio Berlusconi’s center-right coalition was leading the Senate race.

At last check, the Dow Jones was trading 0.64% lower at 13,911.28, the S&P 500 was trading 0.91% lower at 1,501.61, and the Nasdaq was trading 0.63% lower at 3,141.90.

All sectors in the S&P 500 are in red in late trading. Industrials are leading the losses in the S&P 500 in trading currently. At last check, the sector was down 1.27%. Financials have also fallen sharply in late trading. At last check, the sector was down 1.25%. Conglomerates are also down 1.25% in trading currently. Energy sector is currently trading 1.18% lower.

Among the major movers in late trading include Universal Display Corporation (NASDAQ: PANL), which is currently trading 10.80% lower at $29.23, Dillard’s Inc. (NYSE: DDS), which is currently trading 9.27% lower at $77.05, Zynga Inc. (NASDAQ: ZNGA), which is currently trading 10.50% higher at $3.53, Endo Health Solutions Inc. (NASDAQ: ENDP), which is currently trading 8.38% higher at $30.39, 3D Systems Corporation (NYSE: DDD), which is currently trading 10.03% lower at $34.16, General Cable Corporation (NYSE: BGC), which is currently trading 6.85% lower at $31.83, and Ruckus Wireless Inc. (NYSE: RKUS), which is currently trading 8.50% higher at $21.31.

European markets ended mostly higher earlier today as initial exit poll results showed that the center left coalition was leading in the Italian election. The FTSE 100 Index in London closed 0.31% higher, and the CAC 40 Index in Paris closed 0.41% higher. Asian markets ended mostly higher overnight, with the Nikkei 225 Index in Japan closing 2.43% higher, and the Hang Seng Index in Hong Kong closing 0.17% higher.

edliston

edliston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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