Dow Watch: JPMorgan, Bank of America Fall

JPMorgan Chase and Bank of America are the worst decliners on the Dow Tuesday.
Publish date:

Updated from 1:01 p.m. EDT

Don't Be Concerned


At 6:05 p.m. EDT



Dow Jones Industrial Average

wasn't able to rise again, and the index ended Tuesday down 115.89 points, or 1.5%, at 7659.97. I'm not worrying about it, and there's no reason you should either.

Let's be honest. It just wasn't a compelling session. After a day like


, none of us should be surprised that traders decided to pocket some of those profits. The range was only about 150 points, roughly 7647 to 7797.

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Only three companies rose --


(DD) - Get Report



(BA) - Get Report




, and

General Electric

(GE) - Get Report

was unchanged. The other 26 Dow components fell.

JPMorgan Chase

(JPM) - Get Report

had the biggest decline, falling 9% to $26.27.

Bank of America

(BAC) - Get Report

dropped 7.8% to $7.19. BofA and


(C) - Get Report

were the most actively traded issues, with more than 500 million shares changing hands in each stock.

With the step back, the Dow cut its gain for the month to 8.5%. It's still up more than 1,100 points, or 17%, since March 9.

Quiet After the Rally


At 12:35 p.m. EDT


So we're getting a little pullback. Who cares? On Monday, the


advanced nearly

500 points

. A day later, it's down 53 points at 7723.

No one should be even remotely alarmed by the action. While only seven of the 30 Dow components were higher, the damage was fairly limited.

General Motors

(GM) - Get Report

was the worst performer on a percentage basis, losing 5.1% to $3.18. Again, no cause for concern. Since March 9, the day the Dow closed at a 12-year low, GM has doubled.


(C) - Get Report

was down 3.2% at $3.03, and


(DIS) - Get Report

was off 3% at $18.35, but otherwise the losses were minor.

Bank of America

(BAC) - Get Report

, which is seeing two more

Merrill Lynch

veterans walk away, was lower by less than 1%.

As for the winners,

General Electric

(GE) - Get Report

was up 2.9% at $10.73, and


(BA) - Get Report

was adding 2.2% to $36.28.

Basically, to this point we've got a yawner. Of course, we still have about three hours left, and we know well that afternoons can be volatile, so don't fall asleep just yet.