Dow down 814 points on losses for American Express, Nike stocks

view original post

Behind negative returns for shares of American Express and Nike, the Dow Jones Industrial Average is slumping Thursday afternoon. The Dow DJIA, -3.00% was most recently trading 814 points (2.7%) lower, as shares of American Express AXP, -6.57% and Nike NKE, -6.69% are contributing to the index’s intraday decline. American Express’s shares are off $8.93 (6.1%) while those of Nike have dropped $6.81, or 6.0%, combining for an approximately 104-point drag on the Dow. Chevron CVX, -6.27%, Caterpillar CAT, -6.01%, and Salesforce Inc. CRM, -5.32% are also contributing significantly to the decline. A $1 move in any one of the 30 components of the Dow results in a 6.59-point swing.