stock exchange
Specialist Frank Masiello is reflected in his screen on the floor of the New York Stock Exchange, Monday, Aug. 24, 2015. U.S. stock markets plunged in early trading Monday following a big drop in Chinese stocks. (AP Photo/Richard Drew)
(Richard Drew)
LANSING, MI -- The stock market grappled with a huge drop early Monday morning stemming from a plunge in Chinese stocks, and Michigan companies are among those affected.
The Dow fell by more than 1,000 points within the first four minutes of trading. It's since leveled off, and was down 199 points as of 12:51 p.m. Eastern time. That's on top of a down market on Friday.
Investors are responding to an economic slowdown in China, and looking for which companies might be most likely to weather a less robust Chinese markets.
A quick round-up of how stocks of large Michigan companies were faring on the NASDAQ this afternoon:
* Dow Chemical Corporation stock was down 3 percent to $41.34 as of 2:01 p.m. At its lowest point so far today the stock was at $35.20 per share.
* Ford Motor Company stock was down 4.44 percent to $13.24 as of 2:03 p.m. At its lowest point so far today it was at $10.44.
* Domino's Pizza was down 0.68 to percent to $103.80 as of 2 p.m. At its lowest point so far today it was at $96.00.
* General Motors Company stock was down 1.47 percent to $28.13 as of 2:07 p.m. At its lowest point so far today it was at $24.69.
* Whirlpool Corporation stock was down 4.77 percent to $169.12 as of 2:12 p.m. At its lowest point so far today it was at $163.30.
* Steelcase was down 2.34 percent to $17.08 as of 2:14 p.m. At its lowest point so far today it was down to $16.06.
* The Stryker Corporation was down 3.79 percent to $95.60 as of 2:16 p.m. At its lowest point so far today it hit $91.81.
The Associated Press Contributed to this report.
Emily Lawler is a Capitol/Business reporter for MLive. You can reach her at elawler@mlive.com, subscribe to her on Facebook or follow her on Twitter: @emilyjanelawler.