Investing

The 4 Stocks That Sank the Dow on Wednesday

Paul Ausick

Published: February 10, 2016 4:01 pm

Last Updated: January 13, 2020 1:20 pm

February 10, 2016: Markets opened higher on Wednesday after Fed chair Janet Yellen released her prepared testimony for today’s appearance before Congress. She cited tighter global financial conditions, ut reaffirmed that the Fed would make gradual adjustments in the central bank’s policy rate.. WTI crude oil for March settled at $27.45, down 1.9% today. April gold slipped 0.3% to settle at $1,194.60 for the day. Equities were headed for a mixed close shortly before the closing bell as the DJIA traded down 0.60% for the day, the S&P 500 traded up 0.03%, and the Nasdaq Composite traded up 0.41%.

The DJIA stock posting the largest daily percentage loss ahead of the close Wednesday was The Walt Disney Company (NYSE: DIS) which traded down 3.73% at $88.88. The stock’s 52-week range is $86.25 to $122.08. Volume was about 3 times the daily average of around 10 million shares. The media giant reported weak results after markets closed last night.

International Business Machines Corp. (NYSE: IBM) traded down 3.14% at $120.14. The stock’s 52-week range is $118.00 to $176.30. Trading volume was about equal to the daily average of around 5.1 million. The company had no specific news today.

Caterpillar Inc. (NYSE: CAT) traded down 2.74% at $62.18. The stock’s 52-week range is $56.36 to $89.62. Trading volume was about 40% below the daily average of around 7 million. The tech giant had no specific news today.

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The Coca-Cola Co. (NYSE: KO) traded down 1.59% at $42.61. The stock’s 52-week range is $36.56 to $43.91. Volume was about equal to the daily average of around 14.6 million shares traded. The soft-drinks maker reported earnings yesterday and the stock got a bump that it gave back today.

Of the Dow 30 stocks 19 are set to close lower today and 11 are on track to close higher.