Intel, Verizon Communications Inc. share losses lead Dow's nearly 525-point fall

view original post

The Dow Jones Industrial Average is seeing a selloff Friday afternoon with shares of Intel and Verizon Communications Inc. delivering the stiffest headwinds for the blue-chip average. The Dow DJIA, -2.77% was most recently trading 520 points lower (-1.5%), as shares of Intel INTC, -6.94% and Verizon Communications Inc. VZ, -4.34% are contributing to the blue-chip gauge’s intraday decline. Intel’s shares have dropped $2.92, or 6.2%, while those of Verizon Communications Inc. have dropped $1.78 (3.7%), combining for a roughly 31-point drag on the Dow. Also contributing significantly to the decline are Walgreens Boots WBA, -4.78%, Salesforce Inc. CRM, -5.28%, and Chevron CVX, -3.16%. A $1 move in any of the index’s 30 components equates to a 6.59-point swing.