Dow Jones drops Bank of America


With the Dow Jones industrial average experiencing some changes, one major shakeup got attention. Bank of America is being dropped, along with a Hewlitt-Packard and Alcoa. The motivation behind the decision was a desire to diversify trade along with lagging stock prices. Other companies like Nike and Visa are being added on. The changes will take effect after September 20, with the trade closing.

Bank of America has only been in the Dow Jones for a few years. It joined in November of 2008 and has worked ever since to try to reform itself after the financial crisis. Through controversy and bad press, it did make strides in recent months, with strengthening stocks. However, the decision was made that the bank’s bumpy road will finally come to an end later on this month. Changes like this to the stock market are unusual. The last major shakeup was in 2004, when International Paper, Eastman Kodak, and AT&T were dropped. Meanwhile, the Dow Jones moves on, looking forward to working with the companies being added. The stock marker lives on as usual. These changes are also a reflection of the changing landscape of Wall Street and an economy going in a new direction.