The Dow Jones Industrial Average saw losses accelerate Tuesday afternoon, driven by sharp declines in shares of Boeing Co. and Goldman Sachs Group Inc. The pair of Dow components were contributing about 80 points to the blue-chip’s decline, with less than a half-hour left of regular trade. Boeing shares were off $6.30, or 1.8%, while Goldman’s stock was down $5.30, or 2%. A $1 move in any one of the Dow’s 30 components translates to a 6.89-point swing in the price-weighted Dow. Tuesday’s slump in the Dow comes as technology shares, marked by the Nasdaq Composite Index , looked set to halt a 7-session win streak, with the S&P 500 tech sector fund, the Technology Select Sector SPDR ETF , down 1.4%, helping to lead losses for the broad-market S&P 500 index [: SPX]. The S&P 500 was down 0.8% at 2,759, the Nasdaq was on pace for a 1.2% drop, while the Dow was off 226 points, or 0.9%, to 24,954. The stock market was wrestling with uncertainty in President Donald Trump’s White House, with Secretary of State Rex Tillerson being replaced by Mike Pompeo, the current director of the Central Intelligence Agency against the backdrop of an inflation reading that came in line with expectations, quelling some concerns about out-of-control inflation.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
