Shares of General Electric Co. fell 1.2% to a 5-year low, closing out their worst monthly performance since the Great Recession with a seven-session losing streak. The stock plunged 16.6% in October, in the wake of disappointing earnings, uncertainty over the company’s direction after several high-level management changes and worries that the dividend will be slashed, ahead of an investor gathering scheduled for Nov. 13. That’s the biggest one-month decline since the stock plunged 29.8% in February 2009, at the depths of the Great Recession. The stock also stretched its monthly losing streak to eight months, which would be the longest such streak since there is available data on FactSet back to January 1972. The stock has plunged 36.2% year to date, making it by far the worst performer this year in the Dow Jones Industrial Average, which has rallied 18.3% this year. GE is also the worst Dow performer on a one month, three month, six month and 12-month basis.
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