Industrial giant GE is out of the Dow Jones index

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General Electric, one of America's most storied companies and an original member of the Dow Jones Industrial Average, is removed from the iconic stock index after falling on tough times. S&P Dow Jones Indices announced last Tuesday that the iconic maker of light bulbs and jet engines will be replaced in the 30-stock index by drugstore chain Walgreens Boots Alliance. GE was an original member of the Dow in 1896 and has been in it continuously since 1907. Last year, it was the worst-performing stock in the Dow, losing almost half of its value. To pay down a mountain of debt, the company sold off long-held businesses.

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