Cisco's stock set to suffer biggest selloff in 15 months, shaves points off the Dow's price

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Shares of Cisco Systems Inc. tumbled 9.0% in toward a six-month low in morning trading Thursday, to pace both the Dow Jones Industrial Average’s and S&P 500’s decliners, in the wake of the networking company’s disappointing fiscal first-quarter report. The stock is headed for the biggest one-day percentage selloff since it plunged 11.2% on Aug. 13, 2020, which followed Cisco’s fiscal fourth-quarter 2020 results. The stock’s price decline of $5.09 was shaving about 34 points off the Dow’s price, which is down 188 points, or 0.5%. If there is a silver lining to Cisco’s stock drop, it’s that Cisco’s stock is currently the 27th lowest priced in the Dow, so it is the 27th most influential, given that the Dow is a price-weighted index.

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