Dow Jones index drops 0.6% on Intel and IBM

Dow Jones Industrial Average index traded lower on Wednesday as Heavyweight Intel and IBM financial reports disappointed investors. Blue chip index dropped declined 0.63% or 82.79 points and settled at 13,032.75 with technology stocks posting the biggest losses. IBM tumbled 3.5% and Intel lost 1.8% after IBM reported weaker sales and Intel issued lower than expected gross margin forecasts. On the upside Caterpillar added 0.74%. The company's shares has added 20.5% this year.