GE's Stock Falls To Pace Dow's Losers, Heads Toward Lowest 20-month Low

Shares of General Electric Co. slid 3.7% in afternoon trade Thursday, on track to close at the lowest level since October 2015, after a downbeat analyst note from J.P. Morgan. Although the stock was the biggest percentage decliner among the Dow Jones Industrial Average's components, the $1.01 price decline was shaving just 7 points off the Dow, which was currently down 70 points. Since the Dow is a price-weighted index, GE shares have the least influence on the index's price because they are the lowest priced. A 1% move in GE's stock affects the Dow by 2 points, while a 1% move in Goldman Sachs Group Inc. shares , which are the highest priced in the Dow, would have a 16-point affect. On Thursday, the stock weighing the most on the Dow was Walt Disney Co.'s , which was losing $1.46, or 1.4%, to shave about 10 points off the Dow.

Copyright © 2017 MarketWatch, Inc.