AmEx, Visa stocks exact the biggest toll from Dow industrials in early trade
The Dow Jones Industrial Average was struggling to retain a grip in positive territory early Monday, with the benchmark being yanked lower by a pair of credit-card components. Shares of American Express Co. and VISA Inc. were cutting more than 45 points from the price-weighted Dow in morning trade. The Dow was most recently trading off by 14 points, or less than 0.1%, at 25,436, with gains in Chevron Corp. , JPMorgan Chase & Co. and McDonald’s Corp. trying to offset a slide by the credit-card companies. Meanwhile, a drop in technology shares weighed on the broader market, with the S&P 500 index off 0.1% at 2,814 and the technology-focused Nasdaq Composite Index sliding 0.7%, on the back of declines in Facebook Inc. . Facebook’s shares have fallen for three straight sessions after reporting quarterly results on July 25 that disappointed Wall Street, and prompted a reassessment of so-called FAANG stocks, including Google-parent Alphabet Inc. , Netflix Inc., , and Apple Inc. .