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Why Markel Stock Dropped Today

TheMotleyFool

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Markel (NYSE: MKL) saw its share price drop 4.5% Thursday morning on what was a choppy day for the markets. The Dow Jones Industrial Average was down about 628 points at 10:11 a.m. ET, while the S&P 500 was down more than 2% in the morning. Markel hit its low around 12:51 p.m. ET.

Markel, which offers specialty insurance and has a portfolio of public and private companies, rebounded slightly but was still down 3.98% at 3:38 p.m. ET today.

One day after a historically bad June inflation report, which saw the Consumer Price Index (CPI) increase 9.1%, the highest year-over-year increase since 1981, Thursday opened with less-than-great earnings news from two early second-quarter financial bellwethers.

Source Fool.com

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