Share this story
Close X
Switch to Desktop Site

Stock market moves lower

Stock market slide led by airlines and banks. Friday's dismal job report and other evidence of a weak economy are weighing on stock market sentiment.

In this June 3, 2011 photo, a trader watches at a monitor as he works on the floor of the New York Stock Exchange. Weak US jobs figures continued to weigh on the stock market June 6, 2011, as investors fret about the state of the US economy, while the euro remained relatively well-supported by expectations that Greece will receive another financial bailout to plug a potential funding gap over the coming two years.

Richard Drew/AP

About these ads

NEW YORK – Stocks were trading lower Monday morning after losing ground for five straight weeks. Among those taking a slide were airlines, banks and a cigarette maker.

Economic worries continue to weigh on markets. Airline stocks were sharply lower after an industry group cut its estimate for profits this year by half, blaming disasters in Japan, unrest in the Middle East and higher fuel prices.

Delta Air Lines Inc. and American Airlines' holding company AMR Corp. fell more than 2 percent. United Continental Holdings Inc. dropped 1.7 percent. The International Air Transport Association estimates airlines will earn about $4 billion this year, down from $18 billion last year.


Page:   1   |   2

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.