US SMALL/MIDCAPS-Industrials down after Obama drops smog rule

[babsbunny]

http://www.reuters.com/article/2011/09/02/markets-stocks-smallmid-idUSN1E78118V20110902

NEW YORK, Sept 2 | Fri Sep 2, 2011 2:47pm EDT

(Reuters) - Small and mid-cap industrial stocks fell on Friday after U.S. President Barack Obama unexpectedly asked the Environmental Protection Agency to withdraw a plan to limit smog pollution.

The President's comments followed a grim report on the labor market that U.S. employment growth ground to a halt in August with the unemployment rate stuck at 9.1 percent. The weak jobs report triggered a broad market sell-off, sending major indexes down more than 2 percent. The midcap industrials sector index .4GSPI fell 4.3 percent.

Shares of Koppers Holdings (KOP.N) fell 8.3 percent to $29.69. The company provides carbon compounds and commercial wood treatment products to aluminum, railroad, specialty chemical, utility, rubber, concrete, and steel industries.