Declines aplenty, but this stock with north Alabama ties sees rise
Myriad stocks on our Huntsville and Alabama Stock Report took a beating on Tuesday as the markets tumbled. One stock with north Alabama ties, however, made a decent gain.
Adtran and Constellium led the decliners, falling 5% and 4%, respectively.
Carpenter Technology shed 3.1%.
Hexcel was one of the top gainers, picking up 1.9%. The Connecticut-based company is a leading supplier of carbon fiber, honeycomb and other composite materials for the commercial aerospace industry. Its Decatur plant, established in 1989, produces polyacrylonitrile, or PAN, a precursor of carbon fiber.
Overall, Wall Street fell sharply Tuesday as it focused on the downside of a surprisingly strong job market.
The S&P 500 dropped 1.4% to its lowest point in four months. The Dow Jones Industrial Average tumbled 430 points, or 1.3% and wiped out the last of its gains made for the year so far. Some of the heaviest losses came from Big Tech stocks, which sent the Nasdaq composite to a market-leading loss of 1.9%.