IBM is having an out-sized influence on the Dow Industrials Wednesday, much like Goldman Sachs did on Tuesday, as the technology bellwether’s shares dive on disappointing first-quarter results.
IBM’s stock closed down almost 5 percent, on Wednesday. It is the fourth highest-priced stock in the price-weighted Dow Jones industrial average. Based on its point loss, this represents a drag on the Dow of roughly 52 points. The Dow was little changed, rather than higher, because of the IBM drag Wednesday.
