The year's biggest "Dogs of the Dow" stock, General Motors(GM Quote), was indeed a dog Tuesday, as the automaker led the Dow Jones Industrial Average to a triple-digit loss.
In a classic "buy the rumor, sell the news" trade, GM fell 6.2% after the automaker announced late Monday that 35,000 hourly workers have agreed to early retirement or contract buyouts. The stock had rallied dramatically in anticipation of the announcement.
GM's slide helped send the Dow down 1.09% to 10,924.74 Tuesday. The S&P 500 slumped 0.9% to 1239.21, and the Nasdaq Composite tumbled 1.6% to 2100.25.
Marvell Technology (MRVL Quote) was another notable loser, down 15% after announcing plans to purchase Intel's (INTC Quote) communications and application-processor arm for $600 million. ...
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