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TSC 21: Index Pulls Back

High-beta stocks lead the plunge.
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  • Publish date: 21 stumbled along with the broader market Tuesday, as several of its higher-beta components suffered significant losses amid signs of economic weakness.

The TSC 21, designed as a recovery proxy via components that should feel economic trends early, fell 19.39, or 1.8%, to 1055.58. The decline reverses a 1.3% gain on Monday, but leaves the index a healthy 5.5% above its July 3 start at 1000.

Stocks were hammered across the board Tuesday after

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

issued a profit warning and two economic reports, the Conference Board's consumer confidence index and the Chicago Purchasing Managers' index, both disappointed. The

Dow Jones Industrial Average

lost 1.1% while the


gave up about 2%.

The losses were paced by


TheStreet Recommends

(CSCO) - Get Cisco Systems, Inc. Report

, which fell 61 cents, or 3%, to $19.59;


(CAL) - Get Caleres, Inc. Report

, which lost 77 cents, or 4.4%, to $16.58;



, which fell 23 cents, or 3.7%, to $5.85; and



, which dropped 80 cents, or 2.2%, to $35.39.

Overall, 14 components fell and seven rose.