Thank Boeing for sending the Dow into bear territory
The broad U.S. stock market was not (quite) in an official bear market as of the close of trade on Wednesday — but the Dow Jones Industrial Average was. Thank Boeing for that.
By the numbers: Boeing's share price has fallen from $440 in March last year to $162 in early trade on Thursday. That's a drop of $278 per share.
- Because the Dow is an average and not an index, it measures changes in nominal share price rather than changes in market capitalization.
The bottom line: The fall in Boeing's share price alone has wiped more than 1,885 points off the Dow.