Apple, Microsoft, Disney And American Express Continue To Plummet: Dow Jones Index Has Worst First Half In Decades

Zinger Key Points
  • The Dow Jones Industrial Average is off to a rough start in 2022.
  • Industry leaders Apple and Microsoft continue to struggle amid the COVID-19 pandemic and rising inflation.

The U.S. Stock Market has had a rough 2022 so far and the SPDR Dow Jones Industrial Average ETF Trust DIA has been no exception to that. Since the start of the calendar year, the index has lost close to 6,000 points as inflation continues to rise and consumer spending falls.

What is Causing the Index to Fall: The Dow Jones includes 30 of the nation’s largest corporations. This includes credit card giant American Express Company AXP, consumer favorite Apple Inc APPL and entertainment behemoth Walt Disney Co DIS

Yet, as the state of the economy worsens, even blue-chip stocks are in the red this year. 

Companies such as Apple are struggling this year due to rising inflation and supply chain issues. Due to the COVID-19 pandemic, the supply chain issues have been on the rise due to an influx of ships that has been impossible to manage due to worker shortages.

When asked about this issue, Apple CFO Luca Maestri said that supply constraints related to COVID-19 could hurt sales by between $4 billion to $8 billion, according to CNBC

Apple currently sits at $136.72 (at time of publication Friday morning) which is a huge loss from its 52-week high of $182.94.

The index also includes trader and investor favorite Microsoft Corporation MSFT which sits at $256.02 (at time of publication Friday morning) which is almost a 100-point difference from its 52-week high of $349.67.

Microsoft continues to fall due to similar issues as Apple.

In addition to Apple and Microsoft, Disney has also taken big losses this year. The stock price currently sits at $94.39 (at time of publication Friday morning) down from its 52-week high of $187.58.

American Express has experienced one of its most volatile years yet with stock prices constantly fluctuating, but it has also taken hard losses as the stock price is $137.63 (at time of publication Friday morning) which is a 62-point loss from its 52-week high of $199.55.

Also Read: As US Economy Weathers Inflation, GDP Growth Turns Negative: Are We Headed For A Recession?

Benzinga’s Take: The nation is now at an inflection point economically speaking. Every day the markets continue to lose as the nation barrels towards a recession. 

Inflation continues to rise and Americans are now paying more than ever before for essentials such as groceries. 

The nation's leading market index SPDR S&P 500 ETF Trust SPY has hit a 52-year low as markets continue to implode.

If the federal and state governments fail to act, Americans will continue to lose and the nation will enter a period of economic hardship for all.  

Photo: nakashi on Flickr
 

 

Posted In: Dow JonesInflationLuca MaestriRecessionLarge CapNewsBroad U.S. Equity ETFsShort IdeasMovers & ShakersEconomicsMarket-Moving ExclusivesTrading IdeasETFsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.