Home / Market News / Boeing, Goldman stocks contribute about 70 points to Dow’s 170-point drop

Boeing, Goldman stocks contribute about 70 points to Dow’s 170-point drop

The Dow Jones Industrial Average ended lower on Tuesday, driven partly by sharp declines in shares of Boeing Co. and Goldman Sachs Group Inc. The pair of Dow components contributed about 70 points to the blue-chip’s decline. Boeing shares ended off $5.52, or 1.6%, while Goldman’s stock closed down $4.85 or 1.8%. A $1 move in any one of the Dow’s 30 components equates to a 6.89-point swing in the price-weighted Dow. Tuesday’s slump in the Dow comes as technology shares, marked by the Nasdaq Composite Index halted a 7-session win streak, with the S&P 500 tech sector fund, the Technology Select Sector SPDR ETF , down 1.3%, helping to lead losses for the broad-market S&P 500 index [: SPX]. The S&P 500 finished off 0.6% at 2,765, the Nasdaq booked a 1% drop, while the Dow was off closed off 171 points, or 0.7%, to 25,007. The stock market wrestled with uncertainty in President Donald Trump’s White House, with Secretary of State Rex Tillerson ousted by Trump, who nominated Mike Pompeo, the current director of the Central Intelligence Agency, as his replacement, while a reading of inflation was in line with expectations, calming some worries about rising prices.

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