The Dow Jones Industrial Average reached a peak of 36,952.65 on Jan. 4, according to IBD MarketSmith. It fell into what is normally considered a bear market Monday after it dropped more than 20% from that peak. Most of its 30 member stocks have pulled the blue-chip index down, except for a few health care and energy leaders.
A mix of consumer, technology, financial and industrial stocks have hurt the Dow Jones industrials the most, according to Dow Jones Market Data.
While Home Depot contributed the most to the Dow's decline with a hit of nearly 1,000 points, technology stocks weighed considerably on the Dow's descent.
Salesforce cost the Dow about 670 points of performance through Monday. Microsoft deducted more than 600 points off the index. Both stocks are near 52-week lows.
Apple is responsible for nearly 200 points of the Dow's drop, which has subtracted roughly 7,500 points since the January top. The stock appeared to be forming a base but is now trending lower.
Financials, Industrials Hit Dow Jones Index
In financials, Goldman Sachs contributed a loss of 743.83 points, the second most, after Home Depot. JPMorgan Chase was the next weakest financial, responsible for more than 400 fewer points. Both bank stocks are in downtrends.
Among industrial stocks, Honeywell and Caterpillar are in the top 12 of the Dow's point losers. Boeing is in the top five with 568.72 points, and 3M's 443.10 points weighed a lot, too.
Nike, another consumer component, accounts for 463.53 points. That makes it one of the Top 10 point hits in the Dow Jones industrials.
Surprisingly, some defensive plays were part of the Dow's decline, as were a few health care stocks. But those hits were smaller.
Procter & Gamble and Walmart account for about 183 and 70 points of index decline.
Verizon contributed 95.83. Coca-Cola pulled the index down only 15.95.
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Health Care, Energy Stocks Add Points
Health care stocks made mixed contributions. Walgreens Boots Alliance cost the blue-chip index 137.02 points, while Johnson & Johnson accounted for only 35.46. Amgen has had nearly no impact on the index.
However, Merck aided the index with 60.44 points, while UnitedHealth boosted it by 115.07 points.
The only energy stock in the index, Chevron, helped the Dow gain 128.72 points.
The Dow Jones is a price-weighted index. As of Aug. 31, health care accounted for 21% of the index, with information-technology stocks on its heels at 20.5%. Financials, industrials and consumer discretionary held the middle ground at 15.9%, 13.8% and 13.5%, respectively.
Consumer staples, energy, communication services and materials weighed least with 7.7%, 3.3%, 3.2% and 1.1%.
While Wall Street considers the Dow to be in a bear market now, keep in mind that IBD's market outlook was already in correction.
