Dow's 700-point fall led by losses for Nike, American Express stocks

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Behind negative returns for shares of Nike and American Express, the Dow Jones Industrial Average is slumping Thursday morning. Shares of Nike NKE, -5.59% and American Express AXP, -4.95% are contributing to the blue-chip gauge’s intraday decline, as the Dow DJIA, -2.26% was most recently trading 707 points, or 2.3%, lower. Nike’s shares are down $6.02, or 5.3%, while those of American Express have declined $6.93, or 4.7%, combining for an approximately 85-point drag on the Dow. Also contributing significantly to the decline are Salesforce Inc. CRM, -4.25%, Caterpillar CAT, -4.57%, and Chevron CVX, -4.69%. A $1 move in any one of the 30 components of the index equates to a 6.59-point swing.