Stocks Fall In Seesaw Session and Options In Focus: Apple
The NYSE composite dropped 0.6%. The S&P 500 trimmed off 0.4%. The Dow eased only a fraction, as gains in Travelers Cos. (TRV) and McDonald’s (MCD) cushioned losses in other components.
Meanwhile, the Nasdaq fell 0.3%. The tech-heavy index came within less than a point of retaking its 50-day moving average, but then faltered. All major indexes hit new lows for the month.
China Automotive Systems (CAAS) tumbled 7% to a one-month low. The stock is now 36% off its Jan. 11 record high. The stock’s Accumulation/Distribution Rating weakened to C- from A earlier this month.
Telestone Technologies (TSTC) tumbled 6% on nearly twice its average trade. The China-based supplier to telecom carriers is now 40% off a 52-week high.
China Yuchai (CYD) extended its losing streak to five sessions. The diesel engine maker dropped more than 5% in heavy trading.
Elsewhere, Chicago-based CME Group (CME) gapped down, dropped 7% and slicing its 200-day line. [Read the full article]