Hawaii stocks mostly lower as investors worry about bailout bil
Hawai'i stocks had a mostly down day as U.S. stocks slumped on worries about the economy and concern that the bank bailout bill won't be enough to stimulate growth.
Ten of the 11 issues in the Honolulu Advertiser-Bloomberg Hawaii Index fell. The index declined 4.3 percent to 95.30 led by drops in Hoku Scientific and Cyanotech Corp. One stock rose — Central Pacific Financial, which was up 29 cents to $18.41.
Broader market indexes had another bad day as the Dow Jones Industrial Average declined 348.22, or 3.2 percent, to 10,482.85, while the Standard & Poor's 500 Index slid 46.78, or 4 percent, to 1,114.28.
Hoku was off 43 cents, or 7.1 percent, to $5.60. Cyanotech fell about 13 cents to $1.92.
Among larger companies, Alexander and Baldwin Inc. slid 5.4 percent to $42.67 and Bank of Hawaii was off $2.84 to $53.76.