Dow's 463-point drop led by losses in shares of Chevron, Verizon Communications Inc.

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Shares of Chevron and Verizon Communications Inc. are retreating Monday morning, propelling the Dow Jones Industrial Average selloff. The Dow DJIA, -0.69% was most recently trading 463 points lower (-1.4%), as shares of Chevron CVX, -3.69% and Verizon Communications Inc. VZ, -4.32% are contributing to the index’s intraday decline. Chevron’s shares are off $7.32, or 4.6%, while those of Verizon Communications Inc. have fallen $2.21, or 4.3%, combining for an approximately 63-point drag on the Dow. Other components contributing significantly to the decline include Dow Inc. DOW, -2.63%, Nike NKE, -2.79%, and Walgreens Boots WBA, -2.17%. A $1 move in any one of the 30 components of the Dow equates to a 6.59-point swing.