The 4 Stocks That Tanked the Markets

Investing

Published: July 31, 2014 4:01 pm

Last Updated: April 28, 2020 6:22 am

July 31, 2014: Markets opened lower on Thursday following a nearly flat close on Wednesday. Markets opened lower and slipped even more throughout the day, but it’s difficult to blame Argentina for the decline. Shortly before closing today the DJIA traded down 1.78% for the day, the S&P 500 traded down 1.89%, and the Nasdaq Composite traded down 1.93%.

Every DJIA component traded in the red today, but the stock posting the biggest percentage drop today was Exxon Mobil Corp. (NYSE: XOM)) which traded down 3.73% at $99.41 today in a 52-week range of $84.79 to $104.76. Volume was about 60% above the daily average of around 9 million shares traded. Exxon reported positive earnings this morning, but production is down and investors are not happy.

Nike Inc. (NYSE: NKE) traded down 2.93% at $77.27. The stock’s 52-week range is $62.60 to $80.26. Share volume was about flat with the daily average of around 3.2 million shares traded. There was no specific news on the company today, but competitor Under Armour Inc. (NYSE: UA) launched a major campaign to attract more women to its products.

American Express Inc. (NYSE: AXP) traded down 2.77% at $88.40 in a 52-week range of $71.47 to $96.24. Volume was about 90% above the daily average of around 3 million shares. The company’s CEO testified in an antitrust trial today, reminding everyone that the company’s business practices are again under scrutiny.

Verizon Communications Inc. (NYSE: VZ) traded lower by 2.52% at $50.46 today. The stock’s 52-week range is $45.08 to $53.66. Volume was about 30% above the daily average of around 14 million shares traded. The chairman of the FCC has said that Verizon’s plan to throttle data to some of its customers is “disturbing.”

All Dow 30 stocks are on a path to close lower today.

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