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IBM stock selloff would cut the Dow's price by about 50 points

·1 min read
IBM stock selloff would cut the Dow's price by about 50 points
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Shares of International Business Machines Corp. dove 5.4% in premarket trading Thursday, in the wake of the technology company's disappointing third-quarter results, and was by far the biggest drag on the Dow Jones Industrial Average ahead of the open. The implied price decline in IBM's stock would shave about 51 points off the Dow's price, while Dow futures shed 98 points or 0.3%, with 23 of 30 components trading lower. The next biggest Dow decliner in the premarket was Caterpillar Inc.'s stock