Skip to Content
Stock Analyst Update

IBM, Chase Give Market a Big Scare

But company-specific problems are at the root of those stocks' woes.

Mentioned: ,

The Dow Jones Industrial Average staggered Wednesday morning from the counter punch of bad news from Big Blue and a big bank, and reports of higher consumer prices.

The Dow dropped by as much as 3% or about 300 at one point and was down 1.5% or more than 150 points to about 9,935 midmorning. The decline put the Dow below the 10,000 mark for the first time since the middle of March. The Nasdaq Composite index fell about 3% at one point too, but then rebounded and was down less than 1% at about 3,202.

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.