DOW drops GM and Citigroup - WKOW 27: Madison, WI Breaking News, Weather and Sports

DOW drops GM and Citigroup

NEW YORK (WKOW) -- The Dow Jones industrial average is dropping General Motors Corp. and Citigroup Inc and adding Travelers Cos. and Cisco Systems Inc.

General Motors had been part of the Dow for 83 years.

The announcement Monday of the changes to the 30 stocks that make up the best-known barometer of Wall Street comes as GM enters bankruptcy protection, a move that was widely expected.

Dow Jones said in a statement that Travelers, the property and casualty insurer and one-time division of Citigroup, would replace its former parent. Cisco, which makes computer networking gear, is filling the role left by GM.

The changes take effect June 8.

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