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3 Stocks Pulling Down the Dow Jones

As the government shutdown continues and the debt ceiling approaches, these Dow stocks are rolling over

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International Business Machines

100813 ibm 300x247 3 Stocks Pulling Down the Dow Jones
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Most importantly, the most heavily weighted stock in the Dow Jones Industrial Average is in free fall. International Business Machines (IBM) has spent the last two years sliding sideways near $200 a share, which an excursion towards $215 back in March that helped lift the Dow Jones for 10 consecutive days that month.

Now, IBM’s outsized influence (due to its high share price and the Dow Jones’ price-weighted construction) is working in reverse.

How severe is the decline? On a weekly basis, we’re looking at the strongest downtrend in IBM since late 2008.

That’s right. For the most important stock in the most closely followed stock market measure, we’re in the midst of a financial-crisis style selloff.

Check out Anthony’s new investment newsletter, the Edge, and his money management service, Mirhaydari Capital Management. A two-week free trial has been extended to InvestorPlace readers. Click the link above to sign up. Mirhaydari can be contacted at anthony@edgeletter.c​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​om​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ and followed on Twitter at @EdgeLetter. You can view his current stock picks here. Feel free to comment below.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/3-stocks-pulling-down-the-dow-jones/.

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