(RTTNews) - Stocks are seeing additional selling pressure in late morning trading on Monday, as investors worry that a bailout of the financial markets could get delayed by government bickering. A rise in oil prices is also prompting investors to lock in profits from the rally seen late last week.

Bank stocks are turning in some of the worst performances, hurt by several analyst downgrades within the sector. The S&P Bank Index is down 10 percent. Brokerage, airline and real estate stocks are also showing notable weakness.

On the other hand, gold stocks are seeing significant buying interest, as the price of the precious metal soars nearly $40 an ounce. The Amex Gold Bugs Index is up 7.4 percent.

In recent trading, the major averages have set fresh intraday lows. The Dow is currently down 158.81 at 11,229.63, the Nasdaq is down 32.89 at 2,241.01 and the S&P 500 is down 20.02 at 1,235.06.

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Posted in Categories: Economy, Releases, USA.

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