Yesterday, we showed a table of how much each component of the DJIA has impacted the index since its peak on 2/12. Given the continued decline in the market today, we wanted to provide an update showing the stocks with the largest negative impact on the index over the last month. Of the roughly 7,700 points that the DJIA has dropped over the last month, Boeing’s 53% has accounted for more than 1,250 of those points. Cut in half in just a month! Boeing was close to a $200 billion company in February, and now it’s less than $100 billion!
The decline in Boeing (BA) over the last two days is literally unlike anything the stock has ever seen before. The chart below shows the rolling two-day performance for BA going all the way back to 1962. If this morning’s levels remain in place (and prices have been moving wildly), it will be the largest two-day decline (-29.7%) for the stock on record. While the stock saw declines of over 20% in 1998 and after 9/11, those declines were nowhere close to what we are seeing today. Looking to make some sort of sense of all these crazy market moves? Start a two-week free trial to Bespoke Institutional for full access to all of our research and tools.