Dow 30: Only Two Gainers So Far in 2008

In the table below, we highlight the year to date performance of the thirty Dow stocks. Clearly, the stocks haven't gotten off to a very good start. Just two stocks in the index are up over the first three trading days of the year. Pfizer (PFE) is up 0.44% and Coke (KO) is up 0.78%. Intel (INTC) leads the declines at -14.97%. Home Depot (HD) and Hewlett-Packard (HPQ) are down a little over 7%, and most stocks are down between 3% and 6%.

The only news on Intel since the start of the year has been a couple of downgrades from Bank of America and JP Morgan. Should two downgrades and a change from 07 to 08 on the calendar really have caused a $150 billion company to lose 15% of its value?