August 11, 2015: Markets opened lower on Tuesday following a surprise 2% devaluation of the Chinese yuan. Any company that depends on China for any significant part of its business took a hit today, and the basic materials stocks were especially hard hit. Today’s productivity report posted a small gain for the second quarter, but a ray of light did not cut through the gloom of the yuan devaluation. Shortly before the closing bell the DJIA traded down 1.15% for the day, the S&P 500 traded down 0.93%, and the Nasdaq Composite traded down 1.27%.

The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Apple Inc. (NASDAQ: AAPL) which traded lower by 5.05%% at $11368. The stock’s 52-week range is $95.18 to $134.54. Trading volume was approaching double the daily average of around 47 million. Apple sells a lot of iPhones in China and today’s devaluation is not encouraging for the company.

Caterpillar Inc. (NYSE: CAT) traded down 2.62% at $78.06. The stock’s 52-week range is $74.77 to $109.73. Trading volume was was about 45% above the daily average of around 5 million. The company had no specific news today but with commodity metals taking a hit on the Chinese devaluation, the mining equipment maker is also going to take a hit to the share price.

The Walt Disney Co. (NYSE: DIS) traded down 2.20% at $108.56. The stock’s 52-week range is $78.54 to $122.08. About 11 million shares traded hands today, around 60% more than the daily average of about 7.8 million. The company had no specific news today, but can’t seem to shake off the new that cable subscriber numbers are falling.

The Goldman Sachs Group Inc. (NYSE: GS) traded down 2.15% at $201.54. The stock’s 52-week range is $171.26 to $218.77. Trading volume was about 20% below the daily average of around 2.4 million. The company had no specific news today.

Of the Dow 30 stocks 25 are set to close lower today and 5 are on track to close higher.

ALSO READ: The Hardest States to Find Full-Time Work

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.