Hawaii bank stocks fall along with Dow

Wall Street choked Tuesday after the Federal Reserve lowered interest rates a quarter point, less than investors had expected, and Hawaii bank stocks were hit the hardest.

Central Pacific Financial Corp., (NYSE: CPF), parent company of Central Pacific Bank, dropped nearly 7 percent to close the day at $20.51. Bank of Hawaii (NYSE: BOH) fell a little over 6 percent to $50.13.

Hawaiian Electric Industries (NYSE: HE) was down over 2 percent to end the day at $23.24. ML Macadamia Orchards LP dropped almost 3 percent to $3.74. Alexander & Baldwin (Nasdaq: ALEX) fell nearly 2 percent to $52.84.

Hawaiian Holdings (AMEX: HA), parent company of Hawaiian Airlines, which was up more than 1 percent to $5.07. Barnwell Industries (NYSE: BRN) increased a little over 1 percent as well to finish at $12.92.

Hoku Scientific (Nasdaq: HOKU) and Maui Land and Pineapple (AMEX: MLP) both increased nearly 2 percent each, to end at $12.72 and $29.07, respectively.

The Dow Jones Industrial Average fell 294 points to close at 13,432.77.

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source: bizjournals.com