One stock wrote the Dow Jones Industrial Average's entire session
The Dow Jones Industrial Average trades near 53,700 on Thursday, roughly 75 points and a tenth of a percent lower, on a morning when the S&P 500 prints a fresh record intraday high and the Nasdaq Composite runs close to a percent higher.
On September 15, the Dow Jones Industrial Average fell due to a single stock's poor performance. Cisco Systems (CSCO) dropped 9% after its fiscal fourth quarter results, which investors saw as disappointing. The tech giant's share price fell from $124 to around $113, causing a loss of approximately $11 per share. As the Dow is a price-weighted index, this one stock's decline translates to about 65 index points, close to the 75-point drop the index experienced that day.
Other members of the index, such as Meta Platforms (META), Micron Technology (MU), and Netflix (NFLX), did not have a significant impact on the decline. The Dow Jones is calculated by summing the prices of its 30 components and dividing by a factor of 0.152.
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