Chemical stocks fall again as US Dow Jones index drops 1.3%

07 May 2010 21:22  [Source: ICIS news]

HOUSTON (ICIS news)--US chemical stocks took another hit on Friday as the Dow Jones Industrial Average fell 140.72 points, or 1.3%, to extend Thursday's plunge.

The New York stock market's main index had ended down by 347.8 points - or 3.2% - on Thursday, after falling by nearly 1,000 points during the session.

The market's declines came as worries persisted about the Greek debt crisis.

With the exception of fertilizer companies, most chemical firms took a beating during Friday's trading.

Dow Chemical fell by 4.4%, while DuPont fell by 1.3% and Praxair dropped by 0.6%.

Potash Corp of Saskatchewan (PotashCorp) fell by 0.3%, although stock in fellow fertilizer producers Agrium and Mosaic rose slightly.

Calumet stock rose by the largest amount - 12.9% - after a massive sell-off on Thursday.

Quaker Chemical suffered the biggest fall among the stocks followed by ICIS, losing 9.0% on Friday.

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By: Al Greenwood
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