Why General Electric Stock Is Still Falling
It's Wednesday, the day after the stock market's big 4% one-day decline -- and the good news is that stocks are healing today. While not all of yesterday's damage has come undone, the S&P 500 is up about one-third of a percent, and the Nasdaq is up about 0.5%, since yesterday's close.
But not all the news is good. Over at General Electric (NYSE: GE), that bellwether of industry, shares are still sliding for a second straight day -- down 2.1% as of 10:10 a.m. ET.
So what is dragging GE stock down today? The answer's not obvious, but here's one possibility: GE's union is getting antsy, demanding higher wages, and it appears GE is ready to play ball. As the Boston Business Journal reported midday yesterday, GE Aviation has reached a "tentative" agreement with the IUE-CWA Local 201 labor union at its plant in the Lynn suburb of Boston that could result in workers earning higher wages.
Source Fool.com
