Dow industrials skid 200 points lower in midday action as J&J and Boeing’s stock produce 100-point headwind

The Dow Jones Industrial Average Friday midday was trading at session lows, with shares of Johnson & Johnson and Boeing delivering the biggest headwind to the blue-chip gauge. The Dow

DJIA, -0.76%

was off 206 points, or 0.8%, at 26,802, with shares of J&J cutting about 45 points from the index. The S&P 500 index

SPX, -0.49%

was down 0.7% at 2,976, while the Nasdaq Composite Index

COMP, -1.05%

was trading 1.4% lower at 8,047. J&J’s stock was sinking and weighing down the the Dow, where it is a component, after the consumer products and drug company said it was recalling “a single lot” of Johnson’s Baby Powder after tests revealed traces of chrysotile asbestos. Boeing Co.

BA, -4.37%

shares were down 3.3% after a Reuters report. Meanwhile, Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing “evident” risks, while inflation remains muted.

Go to Source