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What's Wrong With Verizon and AT&T Today?

Anders Bylund
November 5, 2013

The Dow Jones Industrial Average (DJINDICES: ^DJI) is trading sideways today. A couple of technology giants are leading the index this afternoon, but the Dow's two telecoms have slammed on the brakes. AT&T (NYSE: T) and Verizon (NYSE: VZ) are the Dow's worst performers today by a long shot, down 1.5% apiece.

So what's going on in the cellphone stores on Wall Street?

Neither AT&T nor Verizon did much to deserve a drubbing today. Or rather, they already unveiled the facts behind today's drop when they reported earnings over the last couple of weeks. The final catalyst comes from much smaller competitor T-Mobile US (NYSE: TMUS), which