...take the highest priced stock in the index and whack it"
With the DJIA divisor (actually a multiplier as it is under 1.0) currently at 0.132319125, today's $6.15 (4.81%) decline in Big Blue is worth...hmmm...multiply by the reciprocal 7.55748649:
46.47 of the 62.19 point decline.
Thank you for stopping at Conspiracy Finance.
Here's a handy site for those who prefer to design their own chapeaux.
For the academics in our audience they have such papers as:
REBUTTAL TO THE MIT ANTI-AFDB [Aluminum Foil Deflector Beanie] STUDY: Rahimi et al.'s paper "On the Effectiveness of Aluminium Foil Helmets: An Empirical Study" has serious flaws that make its conclusion highly suspect. Read more...