The stock market dips to its lowest level since
shortly after the opening bell, although the major indices are still sporting
solid gains. The ten economic sectors pullback following an increase in
broad-based selling interest.
Although well off its high, Financials (+2.6 is
the best performing sector this session, with 86 of its 91 components posting a
gain. KeyCorp (-2.97) is the main laggard after announcing it is raising $1.5
billion in new capital and cutting its dividend by 50% in order to offset up to
$1.2 billion in after-tax accounting charges due to an unfavorable court ruling
regarding its leveraged lease transactions.