Comment on Here's Why Steel Stocks Fell as Much as 12% Today

Here's Why Steel Stocks Fell as Much as 12% Today

Shares of multiple steelmakers fell substantially on March 22. Commercial Metals Company (NYSE: CMC) had the worst day, with shares down more than 12.2% following the release of the company's second-quarter 2018 earnings results before market open. But it wasn't the only steelmaker to have a bad market day. Shares of United States Steel Corporation (NYSE: X) fell 10.7%, AK Steel Holding Corporation (NYSE: AKS) fell 8.3%, Steel Dynamics, Inc. (NASDAQ: STLD) fell 7.5%, and Nucor Corporation (NYSE: NUE) shares fell 5.9%. While Commercial Metals reported quarterly results that were a little disappointing with both revenue and earnings a little below analyst estimates, today's big drop for the company and its peers was more influenced by two bigger pieces of news that affect the entire industry. Image source: Getty Images.Continue reading

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News