Wal-Mart (NYSE:WMT) Pulling Dow Down on JPMorgan (NYSE:JPM) Downgrade

The downgrade of JPMorgan (NYSE:JPM) on Wal-Mart (NYSE:WMT) continues to weigh on the Dow, which dropped by 16 points, or 0.1%, to 12,257.

JPMorgan said made their downgrade decision on seeing no short-term catalysts for the giant retailer.

The giant bank cut Wal-Mart from "Overweight" to "Neutral."

Wal-Mart was trading at $54.97, falling $0.72, or 1.29 percent, as of 1:14 PM EST.