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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Posted: Jan 16 2016 at 6:27am |
Posted: 6:07 p.m.
Friday, Jan. 15, 2016 Stock plunge sends AK Steel shares to new low
Staff
Writer The
stock price of It’s
the first time so far in 2016 the locally-based manufacturer ended the day
below $2 per share of common stock, during which time the last two weeks have
been the worst start to a new year for the stock market ever. Even though AK Steel faces
major headwinds from foreign competitors and what company officials call a
flood of unfairly traded steel imports, low oil prices were a major factor in
the overall stock market’s decline Friday. The three major stock indexes
all lost value Friday, according to The Associated Press: The Dow Jones industrial average slid
390.90 points, or 2.4 percent; Standard & Poor’s 500 index ended
down 44.84 points, or 2.3 percent; and Nasdaq dropped 126.59 points, or 2.7
percent. The
Dow and S&P 500 have now fallen about 8 percent this year, while the Nasdaq
is off about 10 percent. “Oil
is the root cause of today,” said Dan Farley, regional investment strategist at
the Private Client Reserve at U.S. Bank, told Associated Press. “People are
uncertain, and when they’re uncertain they’re scared.” In
addition to the West Chester headquarters, AK Steel operates a steel plant in Here’s
where share prices ended up for other locally-traded stocks after Friday’s
closing bell, when compared to the previous closing price: ·
AK Steel Holding Corp., ·
AtriCure Inc., Mason: -2.67% to $18.25 ·
·
Cintas Corp., Mason: -1.77% to $84.03 ·
First Financial Bancorp, ·
Fifth Third Bancorp, ·
Cedar Fair Entertainment Co., ·
General Electric Co., ·
The Kroger Co., ·
LCNB Corp., ·
The Procter & Gamble Co., ·
Park National Corp., ·
Rex American Resources Corp., ·
Teradata Corp.,
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