US markets are getting slammed right now.
The Dow is down by a whopping 271 points right now.
The 30-component Dow Jones Industrial Average is a peculiar stock market index for several reasons.
For one, it’s a price-weighted index, which means a stock with a high per-share price will have a greater influence on the index’s fluctuations. And currently, a one-point move in any single Dow stock moves the Dow by 6.42195 points.
Currently, four stocks are tumbling after releasing quarterly earnings and guidance that fell short of expectations: Microsoft, Caterpillar, Proctor & Gamble, and United Technologies.
- Microsoft is down 4.7 points (-10.1%), which shaves 30.1 points from the Dow.
- CAT is down 6.7 points (-7.8%), which hacks 43.0 points.
- United Technologies is down 1.6 points (1.3%), which cuts 10.2 points.
- P&G is down by 2.6 points (2.9%), which takes 16.6 points.
Altogether, that’s 99.9 points.