Home Depot Slashes 46 Points From Dow Industrials

By Mark DeCambre Markets MarketWatch Pulse

The Dow Jones Industrial Average on Thursday was being chopped lower by sharp declines in a duo of components: Home Depot Inc. and Travelers Cos. Inc. . The pair were exacting a 60-point toll on the price-weighted Dow industrials . Home Depot's shares alone were off 4.4%, and cutting 46 points from the blue chips, with shares of Travelers yanking the Dow down by about 15 points. The reasons for Home Depot's decline was unclear, but it comes as embattled Sears Holdings Corp. soared 18% after announcing an agreement to sell its signature Kenmore appliances on Amazon.com Inc. . Wall Street investors may view that agreement as a direct challenge to Home Depot and other brick-and-mortar retailers, which sell similar home-consumer products. Meanwhile, Travelers shares were lower after it reported disappointing second-quarter results. The Dow was trading off 0.1% at 21,621, after notching a record on Wednesday. Overall, the S&P 500 index was trading 0.1% higher at 2,476, after touching a fresh intraday record at the open, while the Nasdaq Composite Index was cooling, gaining 0.1% at 6,391, following its own climb to a fresh all-time intraday high in early Thursday trade. All of the main U.S. equity indexes closed at records on Wednesday.

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