The Dow Jones Industrial Average Friday midday was trading at session lows, with shares of Johnson & Johnson and Boeing delivering the biggest headwind to the blue-chip gauge. The Dow was off 206 points, or 0.8%, at 26,802, with shares of J&J cutting about 45 points from the index. The S&P 500 index was down 0.7% at 2,976, while the Nasdaq Composite Index was trading 1.4% lower at 8,047. J&J’s stock was sinking and weighing down the the Dow, where it is a component, after the consumer products and drug company said it was recalling “a single lot” of Johnson’s Baby Powder after tests revealed traces of chrysotile asbestos. Boeing Co. ‘s shares were down 3.3% after a Reuters report. Meanwhile, Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing “evident” risks, while inflation remains muted.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
- Shift4 Payments prices IPO higher than expected, at $23 a share - June 4, 2020
- MarketWatch First Take: Slack was judged by Zoom standards, and it didn’t end well - June 4, 2020
- Dispatches from a Pandemic: ‘We are saving every penny we can’: What life could look like for this 66-year-old man when he loses all his unemployment benefits next month - June 4, 2020