Dow Jones boots GM
The Dow Jones Industrial Average (DJIA) has kicked out General Motors from its index of industrial stocks as the company enters federal bankruptcy protection Monday.
The exit, along with fellow ejectee Citigroup, will take effect on June 8, CBS News reported.
GM’s exit from the Dow reflects its weakened position and now-unsure status as an industrial leader in the American economy — a position it’d assumed without objection decades ago.
CBS reported that Cisco Systems and Travelers Companies, Inc. will take the places left by GM and Citigroup in the index.