Dow transports suffer unanimous selloff toward a 14-month low

dow-transports-suffer-unanimous-selloff-toward-a-14-month-low

The Dow Jones Transportation Average DJT, -7.41% nosedived 1,031 points, or 7.0%, in afternoon trading Wednesday, will all 20 components trading lower, putting it on track for a 14-month closing low. That puts the Dow industrials on track for the biggest one-day decline since it lost 7.7% on June 11, 2020. Of the index’s biggest losers, shares of trucker Old Dominion Freight Line Inc. ODFL, -12.97% tumbled 12.4%, car rental company Avis Budget Group Inc. CAR, -12.49% sank 10.9% and trucker J.B. Hunt Transport Services Inc. JBHT, -9.01% dropped 9.9%. The price declines of those three stocks accounted for a combined 455 points of the Dow transports’ decline. The index’s best performer air carrier Southwest Airlines Co.’s stock KEX, -2.46%, which fell 2.0%. Meanwhile, the Dow transports’ sister index, the Dow Jones Industrial Average DJIA, -3.57%, fell 1,033 points, or 3.2%, also toward a 14-month low.

Source: Marketwatch

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