3M's Selloff To Blame For More Than Half Of Dow's Drop
The selloff in 3M Co.'s stock Thursday morning, in the wake of a disappointing first-quarter report and outlook, is accounting for more than half of the decline in the Dow Jones Industrial Average. Shares of the company, which makes Scotch tape and Post-it Notes, are shedding $4.87, or 3%, to a three-month low. That is shaving off about 32 points from the Dow, which was down 52 points, or 0.3%. 3M's stock has lost 2.7% year to date, while the Dow has gained 0.9%.
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