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Investing

The 4 Stocks That Tanked the DJIA on Wednesday

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By Paul Ausick Updated Published
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July 8, 2015: Markets opened lower on Wednesday but that’s not even half the story. A technical issue shut down the New York Stock Exchange in the morning and trading did not resume until about 3:10 ET. Even the release of the FOMC minutes was overshadowed by the outage at the NYSE. Standard & Poor’s, which normally compiles its DJIA directly from an NYSE feed switched instead to the Composite Tape for NYSE-listed stocks for calculating intra-day index levels. One can only imagine how far the Dow might have dropped if the NYSE had been operating normally today. Shortly before the closing bell the DJIA traded down 1.35% for the day, the S&P 500 traded down 1.56%, and the Nasdaq Composite traded down 1.70%.

The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was Apple Inc. (NASDAQ: AAPL) traded down 2.24% at $122.88. The stock’s 52-week range is $92.57 to $134.54. Trading volume was around 53 million shares, more than 15% above the daily average of around 45 million. Analyst at Canaccord Genuity raised estimate on number of iPhones Apple will sell and The Wall Street Journal said that Apple will order up to 90 million of the new iPhones expected to be launched later this year.

American Express Co. (NYSE: AXP) traded down 2.08% at $75.94. The stock’s 52-week range is $75.75 to $95.58, and the low was posted today. Around 4 million shares traded hands today, about 33% below the daily average of around 6 million. The company had no specific news today.

JPMorgan Chase & Co. (NYSE: JPM) traded down 2.07% at $65.42. The stock’s 52-week range is $54.26 to $69.82. Trading volume was about 10% below the daily average of around 15 million. The company agreed to pay $136 million to settle a credit-card investigation by the federal Consumer Financial Protection Bureau.

Caterpillar Inc. (NYSE: CAT) which traded lower by 2.06%% at $82.26. The stock’s 52-week range is $78.19 to $111.46. Trading volume was about 25% below the daily average of around 4.7 million. The company had no specific news today.

All 30 Dow stocks are on track to close lower today.

ALSO READ: The Most Expensive Town in Each State

Photo of Paul Ausick
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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