SPX3,825.33+39.95 1.06%
DIA310.85+3.03 0.98%
IXIC11,127.85+99.11 0.90%

Why GE Shares Are Diving Today

General Electric Company (NYSE: GE) shares are trading lower by 4.45% to $71.45. Shares of several companies in the industrials sector are trading lower amid overall market weakness following worse-than-expected US May inflation data.

Benzinga · 06/10/2022 14:13

General Electric Company (NYSE:GE) shares are trading lower by 4.45% to $71.45. Shares of several companies in the industrials sector are trading lower amid overall market weakness following worse-than-expected US May inflation data. Rising inflation has raised concerns of an economic slowdown, which could impact industrial stocks.

According to the Bureau of Labor Statistics, the all-items CPI figure increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.

See Also: Apple Reportedly Plans For a Bevy Of Laptops Armed With Powerful In-House Chips

According to data from Benzinga Pro, GE has a 52-week high of $116.16 and a 52-week low of $70.74.