NEW YORK (TheStreet) -- 3M (MMM), Alcoa (AA), Exxon Mobil (XOM), EI du Pont de Nemours & Co (DD), Caterpillar (CAT) and General Electric (GE) emerged as top losers among Dow Jones Industrial Average stocks last week, whereas Microsoft (MSFT) and International Business Machines (IBM) closed with smaller losses.
Microsoft closed the week with a minor decline. Overall, the stock lost 0.5%, vs. the Dow's 4% loss.
IBM lost 1.8%.
All the stocks on the Dow Jones Industrial Average pulled back last week as the market was gripped with fear that U.S. politicians wouldn't reach an agreement on raising the debt ceiling and averting a potential government default.>> Get your financial news on the go with TheStreet's iPad app. 3M led the pack, declining 8.6%. During the week, UBS analysts reduced the stock's price target to $103 per share from $108, while FBR Capital cut its target price from $105 per share to $103. Other stocks with large losses included Alcoa (down 6.9%), Exxon Mobil (down 6.4%) and DuPont (down 6.3%). Caterpillar fell 6%. During the week Goldman Sachs lowered the stock's price target to $122 per share from $128 and maintained its neutral rating. General Electric (GE) shed 5.9%. Meanwhile, United Technologies (UTX), dipped 5.5%, Merck & Co (MRK), dropped 5.4%, Walt Disney (DIS), erased 5%, Chevron (CVX) dropped 4.5%, Home Depot (HD) fell 4.4% and Procter & Gamble (PG) slipped 4.3%. Insurance company The Travelers Companies (TRV) fell 4.3% last week after Deutsche Bank analysts lowered the stock's target price from $55 per share to $52 and maintained a sell rating on the stock. American Express (AXP) and Hewlett-Packard (HPQ) declined 4.2% each. Bank of America (BAC) shed 4.1% after Sanford Bernstein's John McDonald reduced 2011 estimates. Elsewhere, JPMorgan Chase (JPM), Pfizer (PFE), Verizon Communications (VZ), AT&T (T), Intel (INTC), Wal-Mart Stores (WMT), Boeing (BA), Kraft Foods (KFT) and Cisco Systems (CSCO) retreated 3% to 4% on average.
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