2/15/2012 2:08 PM ET
(RTTNews) - Stocks showed a notable move to the downside earlier in the afternoon and are once again turning in a lackluster performance in mid-afternoon trading on Wednesday. The major averages have shown some volatility over the course of the session.
While remarks from Chinese officials indicating that the country will continue to invest in European government debt to help resolve the debt crisis generated some positive sentiment, traders are also digesting news indicating that the second Greek bailout will be delayed.
Transportation stocks have come under considerable selling pressure on the day, dragging the Dow Jones Transportation Average down by 1.7 percent. Overseas Shipholding (OSG) and Kansas City Southern (KSU) are posting notable losses.
Steel and oil service stocks are also seeing significant weakness in mid-afternoon trading, while strength remains visible among health insurance, networking, and natural gas stocks.
The major averages are currently turning in a mixed performance, with the Nasdaq just above the unchanged line. While the Nasdaq is up 0.90 points or less than 0.1 percent at 2,932.73, the Dow is down 87.65 points or 0.7 percent at 12,790.63 and the S&P 500 is down 2.95 points or 0.2 percent at 1,347.55.
by RTT Staff Writer
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