Dow down 714 points on losses in shares of Nike, American Express

view original post

Dragged down by declines for shares of Nike and American Express, the Dow Jones Industrial Average is slumping Thursday afternoon. Shares of Nike NKE, -5.57% and American Express AXP, -5.96% have contributed to the blue-chip gauge’s intraday decline, as the Dow DJIA, -2.42% was most recently trading 714 points (2.3%) lower. Nike’s shares are down $6.76, or 6.0%, while those of American Express have dropped $8.54 (5.8%), combining for an approximately 101-point drag on the Dow. Caterpillar CAT, -5.44%, Chevron CVX, -5.35%, and Salesforce Inc. CRM, -5.16% are also contributing significantly to the decline. A $1 move in any of the Dow’s 30 components results in a 6.59-point swing.