Action remains choppy in afternoon trade. After making a sudden, sharp downturn, stocks struggle to move back to higher ground.
Trading remains without leadership. The flagging financial sector is
down 5%. Earlier this session it fell to a new record low. The
financial sector was down 70% year-to-date at that low.
Energy is performing the best this session. It is up 3.8% as investors
find encouragement from rising oil prices. Oil is up 0.9% to $49.85
per barrel. Oil's advance marks a rebound from a three year low
registered in the prior session.