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The 4 Stocks That Sank the Market

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By Paul Ausick Updated Published
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September 22, 2014: Markets opened lower on Monday following an announcement from China’s Finance Minister that the country would would not add more stimulus to the economy. In Japan, an imminent rise in the consumption tax added to traders concerns about the strength of the economy. Shortly before the closing bell the DJIA traded down 0.61% for the day, the S&P 500 traded down 0.79%, and the Nasdaq Composite traded down 1.14%.

The Dow 30 stock posting the larget percentage loss today was United Technologies Corp. (NYSE: UTX) which traded down 1.72% at $106.58. The stock’s 52-week range is $102.21 to $120.66. The company had no specific news today. Trading volume was about 15% below the daily average of around 4 million shares.

Caterpillar Inc. (NYSE: CAT) traded down 1.44% at $101.00 in a 52-week range of $81.87 to $111.46. Volume was about equal to the daily average of  4.2 million shares. The company’s sales were down 10% for the three month period ending in August 31st driven by lack of demand for mining equipment.

The Walt Disney Co. (NYSE: DIS) traded lower by 1.29% at $89.31 today. The stock’s 52-week range is $63.10 to $91.20. Volume was about 25% lower than the daily average of around 5.8 million shares. The company had no specific news that would account for the hit the share price took today.

Nike Inc. (NYSE: NKE) traded down 1.25% at $80.81 in a 52-week range of $68.04 to $82.79. Trading volume was about 20% below the daily average of around 3.5 million shares. Nike shareholders are worried — and so should the company’s management be — about high-profile suspensions of some sponsored athletes due to their violent behavior.

Of the Dow 30 stocks 22 stocks are set to close lower today, while 7 are on track to close higher and 1 is flat.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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