The 4 Stocks That Tanked the Market
July 8, 2014: Markets opened down on Tuesday following a down-day Monday. The Nasdaq was particularly hard hit as the tech and biotech sectors were absolutely hammered. Shortly before the closing bell the DJIA traded down 0.68% for the day, the S&P 500 traded down 0.71%, and the Nasdaq Composite traded down 1.39%.
Today’s big loser among the Dow 30 stocks was Verizon Communications Inc. (NYSE: VZ) which traded down 1.93% today at $48.82. The stock’s 52-week range is $45.08 to $51.94. Volume was about 33% below the daily average of around 16.8 million shares traded. There was no news on Verizon today, but the telecom stocks trailed down about 0.7% today.
The Boeing Co. (NYSE: BA) traded down 1.85% at $126.70. The stock’s 52-week range is $98.99 to $144.57. Share volume was about 30% above the daily average of around 3.4 million shares traded. The threatened demise of the U.S. Export-Import Bank is hitting the stock today.
JPMorgan Chase & Co. (NYSE: JPM) also traded down 1.71% at $55.70 today, in a 52-week range of $50.06 to $61.48. Volume was about equal to the daily average of around 15.7 million shares traded. The company had no news of note today, but the financial sector was down about 1% today.
General Electric Co. (NYSE: GE) traded lower by 1.31% at $26.40. The stock’s 52-week range is $22.92 to $28.09. Volume was about 15% lower than the daily average of around 26 million shares traded. Again, there was no news on the company today, but industrials were also down by about 0.7% today.
Of the Dow 30 stocks 27 are set to close lower today and just 3 looked to close higher.