US stocks declined sharply Tuesday as the Wall Street is worried over the escalating violence in Libya, the largest oil producing nation in Africa, while the Oil and Gold prices surged. Down Jones Industrial Average had lost 162.64 points, or 1.31 percent to 12,228.61. Nasdaq was trading lower by 68.53 points, or 2.42 percent to 2,765.42, while S&P 400 was lower by 24.75 points, or 1.84 percent to 1,318.26.
Top Performing Industry
As expected, the silver industry continued to hold its place as the top performing industry on Tuesday. Silver is trading higher by 2.6 percent to $33.11 per ounce. The silver industry is trading higher by 2 percent to reach 1,126.9 on Tuesday. The rise was led by First Majestic Silver Corporation (NYSE: AG) gaining 5.14 percent to $14.92 on Tuesday. The other companies pushing the value higher are Revett Minerals Inc. (TSE: RVM) gaining 3.60 percent to reach $4.60 and Silver Wheaton Corp. (NYSE: SLW) gaining 3.16 percent to $40.43 on Tuesday.
Worst Performing Industry
The General Entertainment industry was the worst performing industry on Tuesday, losing 5.85 percent to reach 1,027.50 points. The decline in the value of the industry was led by Carnival Corporation (NYSE: CCL) trading lower by 7.51 percent to $42.27 Tuesday Afternoon. The other companies within the industry that triggered the sharp decline in the value are Carnival Plc ADS (NYSE: CUK) trading lower by 7.20 percent to $43.71 and priceline.com Inc. (Nasdaq: PCLN) losing 3.10 percent to $435 on Tuesday.
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