It wasn't exactly how the week was supposed to go; after the pro-bailout New Democracy party won parliamentary elections in Greece on Sunday, conventional wisdom was that the Dow Jones Industrial Average
Domestically, many investors were left wanting more from the Federal Reserve, which announced after its meeting Wednesday that it will extend Operation Twist -- a program designed to lower long-term interest rates -- through the end of the year. But that wasn't enough stimulus for some, especially after the release of several dismal economic reports the next day. The Dow dropped to its second-worst loss of the year on Thursday, as domestic reports showed disappointing jobless claims and Philadelphia-area manufacturing data. Manufacturing data from Europe and China also came in worse than expected.
So while all these factors combined to drop the Dow by 1% this week, there were some stocks that fared much worse.
Change This Week
Procter & Gamble
HP was this week's big loser, dropping nearly 6%. Tech giant Microsoft
Procter & Gamble was another Dow stock that tanked this week. Shares fell hard on Wednesday after the company announced that it had cut its fourth-quarter revenue and earnings forecasts. It marked the second time Procter & Gamble has lowered its outlook in just the past three months. CEO Bob McDonald said the company remained committed to cutting $10 billion in costs by fiscal 2016.
Chevron rounds out the Dow's three biggest losers this week. Its sell-off this week was mostly due to the negative economic reports this week from around the world that have investors worried of a slowdown in the global economy that could stifle energy demand. Oil has now dropped nearly 25% in just the past two months.
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Brendan Byrnes owns shares of Apple. The Motley Fool owns shares of Microsoft and Apple. Motley Fool newsletter services have recommended buying shares of Procter & Gamble, Apple, Chevron, and Microsoft and creating bull call spread positions in Microsoft and Apple. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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