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: Large CapNewsBroad U.S. Equity ETFsShort IdeasMovers & ShakersEconomicsMarket-Moving ExclusivesTrading IdeasETFsGeneralDow JonesInflationLuca MaestriRecession