The Dow Jones Industrial Average traded firmly lower Monday afternoon, on the back of a selloff in shares of industrial giants Boeing Co., and Caterpillar Inc., as the market assessed the impact of tariffs on steel and aluminum imports on some of the U.S.’s largest companies. Boeing’s share selloff, down 2.9%, or $10.32, and a decline in Caterpillar off 2.7%, or $4.32, combined to exact a roughly 100-point toll on the blue-chip benchmark. A $1 move in any one of the Dow’s 30 components equates to a 6.89-point swing in the benchmark. Meanwhile, shares of Goldman Sachs Group Inc. provided a modest lift for the average, coming as the investment bank reported that its former-CFO Harvey Schwartz, viewed as a potential chief executive at the bank, was set to leave the bank in late April. That news comes amid reports that CEO Lloyd Blankfein may soon be ready to retire from the firm after 12 years at its helm. Most recently, the price-weighted Dow was down 181 points, or 0.7%, at 25,158, while the S&P 500 index was 6 points, or 0.2%, lower at 2,780. The Nasdaq Composite Index was up 0.3% at 7,581, on track to close at a second record in a row.
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