GE's stock resumes tumble toward 9 1/2-year low
General Electric Co. investors only got a one-day reprieve, as the struggling diversified industrial company's stock resumed its tumbled to a 9 1/2-year low. The stock dropped 2.4% in afternoon trade, after gaining 1.5% on Tuesday to snap a nine-session losing streak. It was on track for the lowest close since March 11, 2009. The losses come despite GE announcing further asset sales, including its Current LED technology business to American Industrial Partners and its gasification business to Air Products & Chemicals Inc. for undisclosed sums. GE shares have now shed 30% over the past three months, while the Dow Jones Industrial Average has gained 1.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.