Nike's Stock Selloff Accounting For Nearly Half The Dow Futures' Drop

Shares of Nike Inc. dropped $2.46, or 4.2%, in premarket trade Wednesday, after the athletic apparel and accessories maker provided a tepid outlook as it reported fiscal third-quarter results. The price decline would be in line to shave about 17 points off the price of the Dow Jones Industrial Average , or about 44% of the 39-point drop in Dow futures in recent trade. Nike's stock has climbed $7.18, or 14%, year to date through Tuesday, which added about 49 points to the Dow. The Dow has gained 905 points, or 4.6%, so far this year.