Dow's nearly 350-point drop led by losses for shares of Nike, American Express

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Dragged down by losses for shares of Nike and American Express, the Dow Jones Industrial Average is seeing a selloff Friday afternoon. Shares of Nike NKE, -3.49% and American Express AXP, -2.26% have contributed to the index’s intraday decline, as the Dow DJIA, -0.30% was most recently trading 346 points, or 1.1%, lower. Nike’s shares are down $4.59, or 3.9%, while those of American Express are off $4.77 (2.8%), combining for a roughly 62-point drag on the Dow. Other components contributing significantly to the decline include Walmart WMT, -2.08%, Boeing BA, -1.04%, and Walt Disney DIS, -2.06%. A $1 move in any of the index’s 30 components results in a 6.59-point swing.