American Express Company (AXP), Verizon Communications Inc. (VZ): Why the Dow Dropped More Than 100 Points

Alternatively, shares of Verizon Communications Inc. (NYSE:VZ) are up by 0.9%, making it the best performing stock on the blue-chip index this afternoon. The impetus here is likely related to President Obama’s directive that federal agencies look for ways to increase the amount of spectrum available for wireless broadband. Verizon Communications Inc. (NYSE:VZ) responded to the announcement by saying: “Today’s presidential memorandum is another positive step toward setting a national spectrum policy… We thank the administration for laying out a clear path that will help bring more spectrum to consumers of wireless services, where it will allow the U.S. to maintain its global leadership position in wireless innovation. “

The article Why the Dow Dropped More Than 100 Points originally appeared on Fool.com.

John Maxfield has no position in any stocks mentioned. The Motley Fool recommends American Express Company (NYSE:AXP).

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