HCN Stock Index sinks to 696.59
The financial roller coaster continues.
The HCN Stock Index dropped 8.62 percent Wednesday, pushing the index down to 696.59. All 20 home channel stocks on the index dropped dramatically on a day when the Dow Jones Industrial Average dropped 733 points to 8,577.9 -- a 7.87 percent decline.
Retail giants Home Depot, Lowe’s and Sears Holdings suffered the least amount of damage Wednesday, but the trio still declined 5.89 percent, 4.95 percent and 4.93 percent, respectively.
The double-digit percentage decliners were Fastenal, Tractor Supply, Louisiana-Pacific, Builders FirstSource and BlueLinx Holdings.
Since the Sept. 15 bankruptcy announcement of Lehman Brothers, the HCN Stock Index, a basket of 20 stocks weighted by market cap, has declined 30.33 percent.