Dow's 263-point drop led by losses in shares of IBM, Merck

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Shares of IBM and Merck are retreating Tuesday morning, dragging the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.41% was most recently trading 263 points lower (-0.7%), as shares of IBM IBM, -3.66% and Merck MRK, -1.64% are contributing to the index’s intraday decline. IBM’s shares have fallen $6.04, or 4.5%, while those of Merck are off $1.17 (1.4%), combining for a roughly 47-point drag on the Dow. Also contributing significantly to the decline are Caterpillar CAT, -1.84%, Johnson & Johnson JNJ, -1.41%, and Procter & Gamble PG, -2.14%. A $1 move in any of the benchmark’s 30 components results in a 6.59-point swing.