India, June 29 -- Verizon (NYSE: VZ) stock fell sharply today, dropping over 6%, driven primarily by an anticipated $700 million to $800 million second-quarter accounting loss and the loss of its long-standing membership in the Dow Jones Industrial Average. Verizon Communications Inc. (VZ) stock is down significantly today due to a combination of heavy projected accounting losses, its removal from a major market index, and looming satellite competition.

Why is Verizon Stock Down Today?

Verizon Communications Inc. (VZ) stock has dropped roughly 5.8% to 7.6%, hitting intraday session lows of $42.78, driven by heavy projected accounting losses from a new joint venture, its official removal from the Dow Jones Industrial Average, and mountin...