GE - Why General Electric Trex and Boeing Stocks All Tumbled 10% (Or More) Today
Stock markets appeared to catch a second wind last week -- or at least catch a break -- with the S&P 500 putting together a modest three-day rally in stock prices. But after yesterday's return to the red, and today's even deeper declines, it appears we're to have no such luck this week.
Industrial stocks are getting hit particularly hard, with shares of aerospace companies General Electric (NYSE: GE) and Boeing (NYSE: BA), and wood-alternative manufacturer Trex (NYSE: TREX) all losing more than 10% of their share price in early trading. As of 1:45 p.m. EDT, they seem to be recovering a bit of their losses, but GE shares are still down 9.3%, Trex is down 10.4%, and Boeing is still down 11.2%.
Why?