Dow Drops 450 Points: Boeing, American Express Shares Drag Index Down

The Dow Jones Industrial Average (DJIA) tumbled nearly 450 points on Monday, as shares of Boeing (BA) and American Express (AXP) weighed heavily on the index. The DJIA closed at 33,296.08, down 1.35%, while the S&P 500 and Nasdaq Composite also finished lower, down 1.24% and 1.44%, respectively.

Boeing's stock price fell 7.7% to $178.40, following reports that the company's chief operating officer, Stephanie Pope, is no longer with the company. The departure of Pope, who was once considered a potential successor to CEO Dave Calhoun, comes as Boeing faces challenges in its 787 Dreamliner program and ongoing issues with the 737 MAX. The company's stock has now lost more than 20% of its value since the beginning of the year.

American Express, on the other hand, saw its stock price drop 4.4% to $177.01, as investors reacted to the company's fourth-quarter earnings report. The company reported earnings per share (EPS) of $2.10, missing analysts' estimates of $2.13. Revenue also came in below expectations, at $11.2 billion compared to the expected $11.3 billion. American Express's stock has now lost more than 10% of its value since the beginning of the year.

The Dow's decline on Monday was also influenced by broader market concerns, including President Trump's trade policies and the ongoing Brexit negotiations. The market's recent volatility has been driven by uncertainty surrounding these geopolitical events, as well as concerns about the global economic slowdown.

Despite the recent market volatility, some analysts remain optimistic about the long-term prospects of both Boeing and American Express. Boeing's turnaround under CEO Dave Calhoun has shown promise, with increased transparency and a KPI-driven framework to boost production and maintain quality. American Express, meanwhile, has benefited from strong consumer spending and credit card usage, which is expected to continue in the future.