Local issues plummet with Dow
Advertiser Staff
Local stocks fell on a day when the Dow Jones industrial average tumbled by its second-biggest point drop ever on disappointing retail sales and worries about a recession.
The Honolulu Advertiser-Bloomberg Hawai'i Index fell as 9 of 11 issues in it suffered losses on the day.
The decline would have been worse except for a gain at Central Pacific Financial, which rose on news that it expects to report a profit of at least $2.2 million when it announces results later this month.
The local index fell 5.4 percent. That compared to the Dow, which was off 7.9 percent and retreated 733.48.
Central Pacific, the parent company of the state's third-largest bank, rose 42 cents to $15.38 on an otherwise bleak day for local stocks.
Among other Hawai'i-based companies:
