Connecticut Stocks on a Wild Ride After Market Drop
Are we on the verge of another market financial crisis, or is it just a market correction. Either way Connecticut based stocks are on a wild ride.Shares of Connecticut-based companies fell across the board Friday.
According to ctpost.com shares of Fairfield-based General Electric (NYSE: GE) were off more than 2 percent to $24.60 at the closing bell Friday, dropping the stock below it’s price last April on the eve of GE announcing the spinoff of Norwalk-based GE Capital.
Stamford's largest cooperate employer was also off 2 percent, stock of Starwood Hotels & Resorts Worldwide (NYSE: HOT). When the market closed Friday it's shares were at $73.17.
Harman International Industries (NYSE: HAR) also based in Stamford saw it's shares drop 5 percent to close at $94.77. Also dropping more than 5 percent was the Greenwich-based logistics brokerage company XPO Logistics (NYSE: XPO); and Genesee & Wyoming (NYSE: GWR), the Darien-based railroad whose cars take cargo to and from ports.
Things haven't started that much better this week as stocks took another dive on Monday, sending the Dow Jones industrial average down more than 1,000 points in a matter of seconds.
The market recovered some of its losses but was still way down for the day.