Financials, Industrials, and Basic Materials Slide into the Close

The market obviously did not hear what it wanted to from Fed Chief Ben Bernanke in his appearance today, as all of the major indices have sold off throughout the afternoon session.

The S&P 500 is currently down 10 points (0.8%) to 1,188. The Dow Jones Industrial Average is trading down 86 points (0.8%) to 11,328, and the NASDAQ has lost 17 points (0.7%) to 2,531.

The market is apparently positioning for a disappointing employment speech from President Obama later tonight.

Gold futures (/GC) have gotten back nearly all of yesterday's losses, currently up 2.9% to $1,870. Silver futures (/SI) are also posting strong gains, currently trading up 2.1% to $42.51.

Oil futures (/QM), have fluctuated between positive and negative territory throughout most of today's session, but bears appear to have taken control, as contract prices are currently down $0.42 (0.5%) to $88.92 – near session lows.

The Financial Sector has been the worst performing area of the market throughout most of the action today, currently down 2.1%. The Industrials and Basic Materials Sectors are also losing strength into the close, both near the lows of the day – currently down 1.6% and 1.5% respectively.

The worst performing stocks in the S&P 500 Financial Sector in today's session currently are:

1) Genworth Financial (NYSE: GNW): Shares of Genworth are currently trading down 7.5% from yesterday's close to $6.03.

2) First Horizon National (NYSE: FHN): Shares of First Horizon are currently trading down 5.2% from yesterday's close to $6.38.

3) Regions Financial (NYSE: RF): Shares of Regions are currently trading down 4.8% from yesterday's close to $4.16.

The worst performing stocks in the S&P 500 Industrials Sector in today's session currently are:

1) Pall (NYSE: PLL): Shares of Pall are currently trading down 10.4% from yesterday's close to $43.72.

2) Perkinelmer (NYSE: PKI): Shares of Perkinelmer are currently trading down 5.6% from yesterday's close to $20.82.

3) Agilent Technologies (NYSE: A): Shares of Agilent are currently trading down 4.4% from yesterday's close to $34.10.

The worst performing stocks in the S&P 500 Basic Materials Sector in today's session currently are:

1) Alpha Natural Resources (NYSE: ANR): Shares of Alpha Natural are currently trading down 6% from yesterday's close to $31.42.

2) AK Steel (NYSE: AKS): Shares of AK Steel are currently trading down 3.9% from yesterday's close to $8.55.

3) International Paper (NYSE: IP): Shares of International Paper are currently trading down 3.8% from yesterday's close to $26.99.