Chem stocks join in Wall Street sell off; DJI off 4%

12 March 2001 23:30  [Source: ICIS news]

HOUSTON (CNI)--Chemical stocks joined the general retreat Monday as investors sent the Dow Jones Industrial (DJI) average tumbling 4.1% or 436.37 points to 10 208.25 - its the fifth-worst point loss on record.

The tech-heavy Nasdaq fell below 2000 for the first time since 14 December 1998, shedding 129.41 points or 6.3% of its value to close for the day at 1923.64.

Shares of most major US chemical companies tracked by CNI declined. Dow Chemical was down $1.79/share or 5% to $33.86 while Eastman Chemical was down 4.25% to $51.59.

DuPont, whose stock price has been increasing over the past several weeks, was off 3.4% or $1.62/share to $45.48. Its 52-year high was $63.62 and its low was $38.18.

Solutia posted a 69 cent/share decline to $14.17 while Englehard was off 19 cent/share to $26.51 and Rohm & Haas lost 61 cent/share to $37.04.

Among other stocks tracked by CNI: Millennium Chemicals was off 10 cent/share to $16.90; Hercules as down 26 cent/share to $13.80, Praxair shed $1.71 cent/share to $47.19 and Crompton lost 53 cent/share or 4.55% to $11.11.

Lyondell Chemical was one of the few chemical companies to buck the trend. Shares of the Houston, Texas-based company were up 34 cent to $17.22.

By: Mike Sheridan
+1 713 525 2653

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