US Report: US Airways sought bankruptcy protection on Sunday, the first such filing by a major carrier since the September 11th attacks triggered a financial crisis in the airline industry.
Blue-chips sagged yesterday after news of a bankruptcy filing by US Airways Group reignited jitters about corporate America's health, but technology stocks ended flat as investors fished for beaten down shares.
While the issue of corporate corruption has stolen the spotlight, troubles at a household name like US Airways remind investors that the fundamental picture for earnings remains worrisome, as well, traders said.
The Dow Jones Industrial Average fell 61.75 points to 8,683.7, according to the latest available data.
Home Depot weighed on the blue-chip gauge with a drop of $1.59 to $26.70 as investors, fearing consumers will reel in their spending, dumped shares of retailers.
The broader Standard & Poor's 500 Index slipped 5.42 points to 903.22, but the technology-laced Nasdaq Composite Index eked out a slim gain of 0.57 points to 1,306.69.
