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Monday, June 1, 2009

General Motors, Citigroup to be cut from the Dow

The closely watched Dow Jones industrial average reshuffled the deck on Monday, removing both General Motors Corp (GM) and Citigroup Inc (C) in a widely anticipated move.

Technology bellwether Cisco Systems Inc (CSCO) will replace GM, which filed for bankruptcy on Monday morning. Travelers Co (TRV), a large home, auto and commercial insurer, will take the place of Citigroup, which has taken billions of dollars from the U.S. government to stay afloat.

Dow Jones & Co said the changes will be effective as of the opening of trading on June 8.

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