Whilst the broader market saw a day of swings, Alcoa (AA) saw severe weakness, as the market simply isn't falling for the latest set of accounting tricks, settling -8.1% @ $7.27, the lowest level since April 2009. The March'2009 low of $4.63 now looks set to be hit within 3-5 months.
Along with CHK, CNX, FCX, Glencore, RIG, and SDRL, Alcoa is in the group of companies on the 'might disappear list'.
There is simply a glut of supply in the energy/mining industry, and Alcoa is part of the problem.
re: accounting tricks.
Dozens of other websites have covered this, and I'd always recommend just browsing the official full earnings release from the Alcoa website anyway.
Suffice to note... Alcoa posted an 'adjusted' EPS of 4 cents ($0.065bn) for Q4, but the non-adjusted 'reality' is a net loss of around $0.5bn.
*I've no position, but this stock bears watching, as it is an important reflection of the industrial economy.