General Electric Co. will drop out of the Dow Jones Industrial Average next week, a milestone in the decline of a firm that once ranked among the mightiest of blue-chips and was a pillar of the U.S. economy.
It will be replaced by drugstore retailer Walgreens Boots Alliance Inc., the latest sign of the rise of the global consumer economy and the postcrisis boom in debt issuance that has fueled a worldwide deal-making frenzy.
The decision to drop GE, an original member of the Dow that has been a part of the 30-stock index continuously since 1907, marks the latest setback for a company that once was the most valuable U.S. firm but has been hit hard in recent years by the unraveling of its finance business and competitive problems.
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