Stocks are threatening to break down and drop another level as they test the bottom of their recent trading range. Weakness this session has left 90% of the names in the S&P 500 to trade with losses.
Airline stocks are among the hardest hit. They surged 2.4% in the prior session as oil prices ran into selling pressure, but oil's 2.0% spike this session has sent the Amex Airline Index to a 2.1% loss. Also sensitive to higher oil prices, the Dow Jones Transportation Index has fallen to a 1.5% loss.