February 1, 2023

Dow's 235-point drop led by losses in Amgen, Travelers shares

Shares of Amgen and Travelers are trading lower Wednesday afternoon, sending the Dow Jones Industrial Average into negative territory. The Dow
DJIA,
+0.02%
was most recently trading 235 points (0.7%) lower, as shares of Amgen
AMGN,
-2.37%
and Travelers
TRV,
-3.10%
are contributing to the index’s intraday decline. Amgen’s shares have dropped $8.40, or 3.3%, while those of Travelers have declined $5.80, or 3.0%, combining for an approximately 94-point drag on the Dow. Other components contributing significantly to the decline include Chevron
CVX,
-1.51%,
Caterpillar
CAT,
-1.05%,
and Cisco
CSCO,
-0.21%.
A $1 move in any of the index’s 30 components results in a 6.59-point swing.

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