Companies in Hawai'i also suffer
| Free fall deepens recession fears |
Advertiser Staff
Shares of Hawai'i companies tumbled as stocks continued their October swoon and major market indices slumped lower.
The local stock decline could be seen in the Honolulu Advertiser-Bloomberg Hawaii Index, which fell to its lowest level in its 14-month history.
Ten of 11 companies in the index registered declines. Three of them — Alexander & Baldwin, ML Macadamia and Maui Land & Pineapple — reached 52-week lows.
The index fell 5.44 points to 71.17, with Alexander & Baldwin falling $3.10 a share to $34.85.
Maui Land was off 12.5 percent in dropping to $16.93.
The lone stock that rose was Barnwell Industries, which traded at a 52-week intraday low before retracing its loss and ending the day up 10 cents at $6.60.
The Advertiser-Bloomberg index has fallen 25 percent this year.