GM and CitiGroup removed from DOW

The Dow Jones industrial average is the latest Wall Street institution to be reshaped by the financial crisis.

The stock market’s best-known barometer is adding Travelers Cos. and Cisco Systems Inc., replacing Citigroup Inc. and General Motors Corp. The move comes as GM enters bankruptcy protection, a move that was widely expected.

Dow Jones said Travelers, the property and casualty insurer and one-time division of Citicorp, would replace its former parent. Cisco, which makes computer networking gear, is filling the role left by GM after 83 years as part of the Dow.

The changes to the 30-stock index take effect June 8.

This is a major changing of the guard and reflects how greatly the financial crisis has reshaped the world as we know it.

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