The Dow Jones Industrial Average was stumbling lower on Monday, giving up early morning gains, on the back of a selloff in shares of Boeing Co., as the market assessed the impact of tariffs on steel and aluminum imports on some of the U.S.’s largest industrial companies. Boeing’s share selloff, down 3%, or $10.47, was exacting a roughly 75-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 150 points, or 0.6%, at 25,190, while the S&P 500 index was off 0.2%, with a decline in the industrials leading the way lower among its 11 sectors.
Correction and amplification: An earlier version of this article misstated the multiplier for the Dow in point terms. A $1 move equates to a swing of 6.89 points.
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