US chemical stocks slammed as Dow industrial average falls 3.6%

20 May 2010 21:29  [Source: ICIS news]

HOUSTON (ICIS news)--US chemical stocks fell sharply on Thursday with many exceeding the 3.6% drop in the Dow Jones Industrial Average.

The index fell by 376 points to 10,068.

Stock prices fell for nearly every North American chemical company followed by ICIS.

Among the majors, Dow Chemical fell by 3.2% and DuPont fell by 3.0%. Praxair lost 3.0%, and Potash Corp of Saskatchewan fell by 3.4%.

Stock prices fell more sharply for many other chemical companies. Ashland lost 7.2%, Celanese lost 5.4%, Eastman lost 5.2% and Lubrizol lost 5.1%.

US compounder PolyOne fell by the most, losing 11.1%. US pigment producer Kronos was the only gainer, rising by 0.1%.

Overall, stock prices fell as worries persisted about the eurozone debt.

In addition, an index of leading US economic indicators fell in April for the first time this year.

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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By: Al Greenwood
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