May 14, 2014: Markets opened lower on Wednesday after another record setting day yesterday. The yield on 10-year Treasuries fell as demand for safety prevailed. Among equities, utilities did well but it wasn’t enough. The last hour of trading saw some steep dropoffs in all three indexes. Shortly before the closing bell the DJIA traded down 0.63%, the S&P 500 was down 0.53%, and the Nasdaq Composite traded down 0.75%.

One of the Dow’s highest weighted stocks, International Business Machines Corp. (NYSE: IBM) looks to be the leading loser on the index today. The shares traded down 1.90% at $188.52. Big Blue hosted its analyst day meeting today and the CEO reiterated her goal of $20 in earnings per share by next year. Not everyone believes that’s what IBM should be pointed at. The stock’s 52-week range is $172.19 to $211.98. Share volume was about 20% below the daily average of around 5 million shares traded.

Another stock dragging the DJIA down was The Walt Disney Co. (NYSE: DIS) which traded down 1.57% at $80.79 in a new 52-week range of $60.41 to $83.65. Volume was about 25% below the daily average of nearly 7 million shares. There was no new on the company today, although most media companies also traded lower today.

Among heavily traded tech stocks Facebook Inc. (NASDAQ: FB) slipped 1.09% today and traded at $59.18. The stock’s 52-week range is $22.67 to a $72.59. Share volume was about 35% lower than the daily average of around 70 million shares traded. Not a very good 30th birthday gift for founder and CEO Mark Zuckerberg.

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The Home Depot Inc. (NYSE: HD) traded down 1.25% today at $76.31 in a 52-week range of $72.21 to $83.20. The specialty realtor got hit with a price target downgrade from Jefferies this morning and on a light volume day when traders are looking for news, the effect of the drop was probably magnified. Volume was about 20% below the daily average of around 6.8 million shares.

Of the Dow 30 stocks only 5 looked to close higher today while 25 were on their way to a lower finish.

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