Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why the Dow Fell Triple Digits This Morning

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Once again, the stock market demonstrated just how temperamental it can get, dropping sharply to start out the week. Most news reports cited two contributing factors: a key decision about Greek sovereign debt that many expect to reach some resolution this week, and U.S. economic data showing that incomes rose but spending stayed relatively flat, pushing the savings rate up to 4%. Just before 10:30 a.m. EST, the Dow Jones Industrials (INDEX: ^DJI  ) were down 119 points to 12,542, while the S&P 500 (INDEX: ^GSPC  ) fell 14 points to 1,302.

Bank of America (NYSE: BAC  ) was the Dow's biggest loser, dropping more than 3% in early trading. The bank made another change in the leadership team at its investment-banking business, according to The Wall Street Journal, further highlighting the difficulties that the company has had in integrating its purchase of Merrill Lynch back in 2009. The move reportedly involves replacing a triumvirate of co-leaders at the unit, choosing one to act as sole leader going forward. With other pressure on B of A, the stock could face a tough time after its strong performance opening 2012.

Disney (NYSE: DIS  ) also dropped sharply, falling more than 2% in early trading. The company announced that its new Disney Fantasy passenger ship will debut in New York City in March. Whether the recent cruise-ship tragedy in the Mediterranean will have a big impact on Disney's cruise business remains to be seen, but investors will be nervous until actual cancellation figures come in.

The only stock bucking the downtrend to rise was Verizon (NYSE: VZ  ) , up just 0.2%. Despite the small gain, the stock has fallen sharply since the beginning of the year, as its exposure to highly subsidized smartphones like the iPhone could put a crimp on margins despite boosting overall revenue.

Paying attention to stock news is smart, but not if it drives you away from long-term thinking. The Motley Fool's latest special report reveals the names of three stocks tailor-made for long-term investors. The report is yours free if you click here -- but don't wait: Do it now before it's gone.

Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. The Motley Fool owns shares of Bank of America. Motley Fool newsletter services have recommended buying shares of Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (14)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1768481, ~/Articles/ArticleHandler.aspx, 10/21/2016 5:48:55 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 8 hours ago Sponsored by:
DOW 18,162.35 -40.27 -0.22%
S&P 500 2,141.34 -2.95 -0.14%
NASD 5,241.83 -4.58 -0.09%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/20/2016 4:35 PM
^DJI $18162.35 Down -40.27 -0.22%
^GSPC $2141.34 Down -2.95 -0.14%
S&P 500 INDEX CAPS Rating: No stars
BAC $16.56 Up +0.09 +0.55%
Bank of America CAPS Rating: ****
DIS $92.03 Up +0.10 +0.11%
Walt Disney CAPS Rating: *****
VZ $49.14 Down -1.24 -2.46%
Verizon Communicat… CAPS Rating: ****