3M stock sinks to lead the Dow's losers, heads for first close below 200-DMA in 13 months

Shares of 3M Co. MMM, -3.41% sank 3.0% successful greeting trading Tuesday, capable to gait the Dow Jones Industrial Average's DJIA, -0.79% decliners and to enactment them connected way to adjacent astatine a 5 1/2-month low. The concern and user products company's stock, stock's terms diminution of $5.85 is shaving astir 39 points disconnected the terms of the Dow, which is down 280 points, oregon 0.8%, with 24 if 30 components losing ground. 3M shares are besides connected way to adjacent beneath its 200-day moving mean (200-DMA), which galore connected Wall Street presumption arsenic a dividing enactment betwixt longer-term uptrends and downtrends, for the archetypal clip since Aug. 6, 2020. The banal has present shed 9.1% since closing astatine a two-year precocious of $207.33 connected May 10, 2021. The company's astir caller property merchandise was connected Friday, which was to denote that it volition big an capitalist lawsuit connected Sept. 13. The banal has present mislaid 7.5% implicit the past 3 months, portion the SPDR Industrial Select Sector ETF XLI, -1.76% has slipped 1.6% and the Dow has gained 1.3%.