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(ICIS) -- Stocks in North American
chemical companies plunged on Thursday – with several falling more than 7% – as
the Dow Jones Industrial Average lost nearly 513 points. The index closed at
11,384, down 4%.
Among North American chemical companies, the declines were widespread and
steep. Companies losing 7% or more include catalyst producer Albemarle, Cabot,
Calumet, Celanese, CF Industries, Cytec Industries, Dow Chemical, WR Grace,
Kronos, LyondellBasell, Methanex, Mosaic, Quaker Chemical, Rockwood, Spartech, A
Schulman, Solutia, Sunoco, TPC Group, Valero and Westlake Chemical. The list
represents nearly every chemical sector.
Stock even fell for Lubrizol and Arch Chemicals, both of which are
pending acquisition targets.
The chemical companies hit the hardest had
released their quarterly earnings in the past few days.
Polyurethanes and
titanium dioxide (TiO2) producer Huntsman fell by nearly 31% - the largest drop
among the companies followed by ICIS.
mrcplast.com
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