3 Blue Chip Stocks Tanking the Dow Jones Industrial Average: KO, TRV, AA, DIA
The Dow Jones Industrial Average (NYSE:DIA) is closed down 2.36% to 10,655. The stocks below are among the worst performers today.
Coca Cola (NYSE:KO): Analysts with the company have reduced its price target from $80 to $76. In addition, JP Morgan downgraded Coca Cola from overweight to neutral. Coca Cola is down 3.17%.
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Travelers (NYSE:TRV): This stock rose last Thursday on the news that Harleysville will be bought out. Travelers has now returned to the same level it was before the news. Travelers is down 3.96%.
Alcoa (NYSE:AA): Alcoa is down after Deutsche Bank downgraded the stock from buy to hold. Deatsche Bank is concerned about the expected decline in the price of aluminum, and Alcoa’s high debt exposure. The stock is down 7%.
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