Dow Jones News: Boeing and ExxonMobil Lead Dow Lower
Following a big gain on Wednesday for the Dow Jones Industrial Average (DJINDICES: ^DJI), the index declined sharply on Thursday. By 11:40 a.m. EST, the Dow was down 2.36%. The novel coronavirus outbreak in the U.S. is raising fears of a major economic disruption. There are now more than 160 confirmed cases in the U.S. and 11 deaths.
One area already hit hard is travel, with multiple airlines warning about weakening demand. That's not good news for Boeing (NYSE: BA). Shares of ExxonMobil (NYSE: XOM) were also under pressure on Thursday after the company updated its growth plans.
Shares of airplane and defense company Boeing were down 5.1% Thursday morning, underperforming a weak market. While there was no company-specific news, the plight of the major airlines as the novel coronavirus outbreak spreads seems to be weighing on the stock.
Source Fool.com
