(RTTNews) - After seeing initial strength, stocks are trading in a choppy manner in late morning trading on Thursday. While the Treasury Department is reportedly considering partially nationalizing a number of embattled U.S. banks in an effort to calm the roiled financial markets, investors remain worried over the health of the economy.

Bank stocks are leading the broader markets lower, with the S&P Bank Index falling 8.5 percent. Health insurance, gold and oil stocks are sharply lower as well.

On the other hand, airline stocks are showing some strength, boosted by nearly $2 a barrel drop in oil prices. The Amex Airline Index is up 2.6 percent. Steel, chemical and semiconductor stocks are also seeing notable gains.

In recent trading, the major averages have moved off of their intraday lows, with the Nasdaq moving back into positive territory. While the Nasdaq is currently up 2.53 at 1,742.86, the Dow is down 97.96 at 9,160.14 and the S&P 500 is down 12.53 at 972.41.

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Posted in Categories: Economy, Releases, USA.

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