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

view original post

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, -3.58% and American Express AXP, -2.32% have contributed to the index’s intraday decline, as the Dow DJIA, -0.29% 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, -2.06%, Boeing BA, -1.12%, and Walt Disney DIS, -1.96%. A $1 move in any of the index’s 30 components results in a 6.59-point swing.