Verizon Communications Inc., Caterpillar share losses lead Dow's nearly 500-point drop

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Dragged down by declines for shares of Verizon Communications Inc. and Caterpillar, the Dow Jones Industrial Average is in a selloff Friday morning. Shares of Verizon Communications Inc. VZ, -6.06% and Caterpillar CAT, -2.98% have contributed to the blue-chip gauge’s intraday decline, as the Dow DJIA, -1.47% was most recently trading 491 points (1.4%) lower. Verizon Communications Inc.’s shares are off $3.19, or 5.8%, while those of Caterpillar have dropped $6.93 (3.0%), combining for an approximately 67-point drag on the Dow. Other components contributing significantly to the decline include Walgreens Boots WBA, -2.18%, Nike NKE, -2.55%, and UnitedHealth UNH, -2.21%. A $1 move in any one of the 30 components of the Dow equates to a 6.59-point swing.