Declines reign on Mobile and Alabama Stock Report

Declines reign on Mobile and Alabama Stock Report

The negative percentages were out in full force again Thursday on our Mobile and Alabama Stock Report.

Only four stocks saw gains, including International Paper, which topped the chart with a 1.2% bump.

Mobile-based Computer Programs and Systems managed a gain of .9%.

Ten stocks lost at least 2%. Enviva propped up the table with a 5.1% loss. ArcelorMittal dropped 2.1%.

Overall, Wall Street fell sharply Thursday in an ugly day for stocks worldwide on expectations that U.S. interest rates will stay high well into next year.

The S&P 500 lost 1.6% for its worst day since March. That followed a drop of 0.9% from Wednesday after the Federal Reserve indicated it may cut interest rates next year by just half of what it had earlier predicted. The Fed has already hiked its main interest rate to levels unseen since 2001, which helps slow inflation but at the cost of hurting investment prices.