Metals Winners and Losers: Alcoa

Metals stocks were falling Tuesday as dour news from the sector weighed down a number of individual companies' shares.

Alcoa (AA Quote), a day after setting plans to cut its dividend and raise capital, was one of the worst performers, slumping 10.1% to $5.50. Nucor (NUE Quote) was another weak name, sliding 12% to $32.52 after saying it would have a first-quarter loss.

Elsewhere, Steel Dynamics (STLD Quote) was losing 6% to $6.79, and AK Steel (AKS Quote) was lower by 3.1% at $5.96. U.S. Steel (X Quote) was declining almost 4% to $17.67.

Reliance Steel & Aluminum (RS Quote) was retreating 6.7% to $22.14, and Luxembourg's Arcelor Mittal (MT Quote) was falling 8.1% to $16.93. South Korea's Posco (PKX Quote) managed to escape the selloff and rise 2.2% to $62.43.

Exchange-traded funds reflected the weakness in the stocks. The Market Vectors Steel (SLX Quote) was down 3.8% at $24.40, and the S&P Metals & Mining (XME Quote) was off 2.5% at $22.73.