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Nike Crashes 11% in 2016, Worst Among Dow Stocks

Nike Inc. (NYSE: NKE), recently announced it would drop is golf club business. Apparently something much greater is wrong with the athletic wear company. Its shares are off 10.64% this year to $55.85, the largest drop of any Dow Jones Industrial Average component.

The drop is worse than it seems at first. The Dow is up 6.42% to 18,543.52 for 2016. Twenty-five of the 30 stocks are higher, with 11 up in the double digits.

Much of the worry about Nike is that it has ever more competition, from the very large and direct competitor Adidas to the nimble and fast-growing Under Armour Inc. (NYSE: UA), as well as China’s Li-Ning and ANTA Sports Products. As is the case with many consumer products companies, China...