Worst Performing Narrow Indexes Today
There was a lot of blood in the water today, and Agricultural, Chemical and Fertilizer Stocks, down 8.2%, Industrial Metals and Mineral Stocks, which fell 7.2%, and Solar Stocks led the way down. The Solar stock complex lost 6.7% on the trading session.
Potash Corp. (NYSE: POT) had a terrible day, losing 5.5% after a strong performance yesterday. This was one of the big names which took a toll on the Agricultural Chemical and Fertilizer names.
In the Industrial Metals and Minerals index, Ivanhoe Mines (NYSE: IVN) took a beating, falling 13.67% to $12.76. Ivanhoe Mines Ltd. (IVN) is an international mineral exploration and development company.
Leading the carnage in the Solar complex was LDK Solar (NYSE: LDK) which took a 9% haircut. Those shares are now trading at $6.01.
Although all of these names were under extreme pressure, the truth is that there was almost nowhere to hide out today. Only one narrow based index was in the green on the session and that was bond ETFs, which posted a 0.1% gain.
