Dow drops GM, Citigroup

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General Motors Corp. and Citigroup Inc., were removed from the Dow Jones Industrial Average and replaced by Cisco Systems Inc. and Travelers Cos.

GM, which filed for bankruptcy protection today, and Citigroup, the recipient of $45 billion in taxpayer aid, became the first companies since September to leave the DJIA.

Their shares have lost more than 90 percent since the start of 2007.

By replacing GM with Cisco, Dow Jones & Co. has removed automakers from the benchmark for U.S. stocks. Representatives said in an e-mailed statement that computers are now central to the economy and that cars were in the previous century.