General Electric is losing its place on the Dow Jones Industrial Average after more than a century in a move that reflects its declining fortunes and a changing US economy.vWalgreens Boots Alliance will take its spot on the financial index, which tracks shares of 30 companies deemed representative of the US economy. The change took effect on 26 June. The firm that runs the index said the change was intended to reflect the growth of the healthcare sector.
David Blitzer of S&P Dow Jones Indices said the change would make the Dow a "better measure of the economy and the stock market".
The move follows a difficult period for General Electric, whose shares have more than halved in the past year. GE has replaced its chief executive and announced a series of cuts in an effort to reposition itself.
GE said falling out of the Dow would not alter its commitment to creating a "stronger, simpler" company.
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