With all this bear market talk going on, we wondered where the 30 stocks in the Dow would stand if they fell by an equal percentage to put the index at bear market status from its closing high of 14,164.53. For the Dow to fall into a bear market (20% from highs), each stock in the index would have to decline another 13.32% from current levels, putting the index at 11,331.62. We realize that these stocks wouldn't all decline by the same amounts, but if they did, IBM would be down another $13.83 to $90.02, BA would be down another $11.96 to $77.81 and XOM would be down another $11.31 to $73.57. At these price levels, IBM would have a P/E of 13.59, C at 7.57 and PFE at 9.53.
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