Shares of IBM and Intel are retreating Friday morning, sending the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.57% was most recently trading 206 points lower (-0.7%), as shares of IBM IBM, -9.91% and Intel INTC, -9.29% have contributed to the index’s intraday decline.
IBM’s shares are off $13.95 (10.6%) while those of Intel are off $3.71, or 5.9%, combining for a roughly 116-point drag on the Dow. Cisco CSCO, -0.75%, Honeywell International Inc. HON, -1.45%, and Chevron CVX, -0.30% are also contributing significantly to the decline. A $1 move in any one of the 30 components of the index equates to a 6.58-point swing.