Why General Electric Stock Slumped Today
Shares in industrial giant General Electric (NYSE: GE) fell by almost 6% midday as investors digested a management update on trading conditions in the first quarter.
In the update, management noted continued supply chain pressure across three of its four segments, namely healthcare, aviation, and renewable energy. Frankly, that's hardly surprising and pretty much in sync with what the rest of the industrial world says. GE's management expects the "challenges to persist at least through the first half of the year." Again, that's hardly new news, as management had previously signaled this, too.
So what was it that riled the market?
Source Fool.com