The Dow Jones Enigma – Exploring the Company’s Core Functions and Worldwide Influence

26 minutes reading
Sunday, 18 Jun 2023 05:24 0 51 blog

The Dow Jones Enigma – Exploring the Company’s Core Functions and Worldwide Influence

When it comes to the world of finance and investing, few names carry the same weight and influence as the Dow Jones. As one of the most iconic and widely recognized stock market indices in the world, the Dow Jones Industrial Average (DJIA) has captured the attention of investors, economists, and financial experts alike for decades. With its finger firmly on the pulse of global economic trends and developments, the Dow Jones has become an invaluable tool for understanding the ever-changing landscape of the global economy.

In this article, we’ll take a closer look at the Dow Jones, exploring its history, functions, and worldwide influence. From its humble beginnings to its current status as a global economic indicator, we’ll delve into the various ways in which the Dow Jones has shaped the world of finance and investing. Whether you’re an experienced investor or simply looking to learn more about the world of finance, this article will provide a comprehensive overview of the Dow Jones and its enduring legacy.

A Brief History of the Dow Jones

The Dow Jones Industrial Average, also known as the DJIA or simply the Dow, is one of the oldest and most widely recognized stock market indices in the world. It was created by Charles Dow and Edward Jones in 1896 and has experienced numerous changes throughout its history.

The DJIA was originally created to serve as a barometer of the U.S. stock market. The index consisted of 12 blue-chip stocks, which were considered to be representative of various industries, including railroads, tobacco, and sugar.

Year Number of Stocks in the DJIA
1896 12
1916 20
1928 30
1959 30
2021 30

Over time, the number of stocks included in the DJIA has increased to its current level of 30. The companies included in the index have also changed as the U.S. economy has evolved, with companies like Microsoft, Apple, and ExxonMobil now included in the index.

“The Dow Jones Industrial Average is the most widely recognized gauge of the U.S. stock market, and its history tells the story of America’s economic growth and development.”

Today, the Dow Jones is one of the most closely watched stock market indices in the world and is considered to be an important economic indicator. It is used by investors, economists, and policymakers to track the performance of the U.S. stock market and to make decisions about the economy as a whole.

Understanding the Dow Jones Industrial Average (DJIA)

The Dow Jones Industrial Average (DJIA) is a stock market index that measures the stock performance of 30 large, publicly-owned companies listed on the New York Stock Exchange (NYSE) and the NASDAQ. It was created in 1896 by Charles Dow and Edward Jones as a way to track the performance of the US industrial sector.

The DJIA is a price-weighted index, meaning that the stocks with higher prices have a greater influence on the index’s performance compared to stocks with lower prices. The index is calculated by taking the sum of the stock prices of the 30 companies and dividing it by a divisor that is adjusted for stock splits, dividends, and other corporate actions that could impact the index.

The 30 companies that make up the DJIA are considered blue-chip stocks, or stocks of well-established companies with a history of stable earnings and consistent growth. Examples of companies included in the DJIA include Apple, ExxonMobil, IBM, and Coca-Cola.

It’s important to note that while the DJIA is a widely recognized benchmark for the US stock market, it does not represent the entire stock market, as it only includes 30 companies. Other stock market indices, such as the S&P 500 or the NASDAQ Composite, may provide a more comprehensive picture of overall market performance.

How is the DJIA Calculated?

The DJIA is calculated by adding up the stock prices of each of the 30 companies and dividing the sum by a divisor that takes into account any changes to the stocks’ prices or underlying companies, such as stock splits or mergers. The formula for calculating the index is:

(Sum of stock prices of 30 companies) / (Divisor)

The divisor is adjusted regularly to ensure that the index reflects changes in the underlying companies. Despite its simplicity, the DJIA remains one of the most widely recognized and closely watched indexes in the world.

The Dow Jones and Global Financial Markets

The Dow Jones Industrial Average (DJIA) is a critical indicator of the global financial market. The index is followed closely by investors, analysts, and economists alike, and it holds significant power in the stock market. The Dow Jones’s impact extends beyond the United States, as it is closely monitored by investors worldwide who use it to gain insight into the performance of the world’s largest economies.

Changes in the Dow Jones can cause a ripple effect throughout global financial markets. For example, a significant drop in the DJIA may cause investors to panic, resulting in the selling of shares and potentially triggering a chain reaction of selling in other markets. Alternatively, a significant rise in the DJIA may lead to positive responses from investors, resulting in increased confidence and investment in the market.

The Dow Jones and International Markets

The impact of the DJIA is not limited to the United States. As it is a leading indicator of the U.S. economy, the DJIA also has a significant impact on international markets. Investors worldwide monitor the index and analyze its performance to gain insight into the strength and stability of the U.S. economy. Additionally, fluctuations in the DJIA can affect the value of the U.S. dollar against foreign currencies, causing significant changes in international trade and investment.

Furthermore, the Dow Jones is used as a benchmark for other stock markets around the world. Investors often compare the performance of other indices to the DJIA, using it as a standard for the performance of the global economy.

In summary, the Dow Jones Industrial Average holds significant power in the global financial market. The index affects not only the U.S. economy but also international markets and foreign exchange rates. As an essential indicator of the world’s largest economies, investors worldwide closely monitor the DJIA to gain insight into the direction of the stock market.

The Dow Jones and Investing

Investing in the Dow Jones is a popular choice for those looking to diversify their investment portfolio. However, it’s important to understand the pros and cons of investing in this index.

Pros:

  • Long-term investing: The Dow Jones is made up of blue-chip stocks, which are typically stable and have a strong history of growth. This makes it a good option for investors who are looking to make long-term investments.
  • Diversification: Investing in the Dow Jones can help diversify your portfolio, as it includes companies from various industries.

Cons:

  • Short-term volatility: The Dow Jones can experience short-term volatility, which can be concerning for investors who are looking for stability.
  • Limited exposure to small companies: The Dow Jones is made up of 30 large, established companies, which means it provides limited exposure to smaller, up-and-coming companies.

Overall, investing in the Dow Jones can be a good option for those who are looking for long-term growth and diversification. However, it’s important to consider the potential for short-term volatility and limited exposure to smaller companies.

How to Invest in the Dow Jones

If you’re interested in investing in the Dow Jones, there are a few ways to go about it:

Method Pros Cons
Exchange-Traded Funds (ETFs) Low fees, easy to buy and sell, provide exposure to the entire index May not align with specific investment goals, potential tracking error
Mutual Funds Managed portfolios, diversification, potential for higher returns than index Higher fees than ETFs, potential underperformance compared to index
Buying individual Dow Jones stocks Opportunity for higher returns, ability to choose specific companies to invest in Higher risk, may require more research and knowledge of individual companies

No matter which method you choose, it’s important to do your research and consider your investment goals before investing in the Dow Jones.

The Dow Jones and the U.S. Economy

The Dow Jones Industrial Average (DJIA) is a stock market index that is often used as an economic indicator for the United States. This is because the index is made up of 30 large, publicly traded companies that are considered to be leaders in their respective industries. As a result, changes in the DJIA can be a reflection of the overall health of the U.S. economy.

One way in which the DJIA is used as an economic indicator is through its relationship with the Gross Domestic Product (GDP). The GDP measures the total value of goods and services produced within a country, and is often used as a measure of economic growth. When the DJIA is trending upward, it can be an indication that the U.S. economy is growing and that the GDP is likely to increase as well.

Another economic indicator that is often associated with the DJIA is the unemployment rate. When the DJIA is performing well, it can be an indication that businesses are doing well and are likely to hire more workers, leading to a decrease in unemployment. On the other hand, when the DJIA is trending downward, it can indicate that businesses may be struggling and may need to lay off workers, leading to an increase in unemployment.

Finally, the DJIA can also be used as an indicator of inflation. Inflation occurs when the cost of goods and services increases over time, which can negatively impact the economy. When the DJIA is rising rapidly, it can be an indication that inflation may be on the horizon, as businesses try to keep up with demand by raising their prices.

Using the DJIA to Predict Future Economic Trends

Given its close relationship with the U.S. economy, many investors and analysts use the DJIA to predict future economic trends. For example, if the DJIA is trending downward, it may be an indication that the U.S. economy is headed for a recession. Alternatively, if the DJIA is trending upwards, it may be an indication that the U.S. economy is likely to continue growing.

It’s important to note, however, that the DJIA is just one economic indicator, and should not be relied upon exclusively when making investment decisions. Other indicators, such as the S&P 500 and the NASDAQ, should also be considered when evaluating market trends.

The Dow Jones and Corporate America

The Dow Jones Industrial Average (DJIA) is used to track the performance of publicly traded companies and is closely tied to corporate America. The DJIA is made up of 30 blue-chip stocks that are considered to be some of the most influential companies in the U.S. economy, such as Apple, Coca-Cola, and Goldman Sachs.

Changes in the DJIA can affect the stock market, which in turn can impact the growth and profitability of corporations. When the DJIA is up, it often signals a strong economy and investor confidence, which can lead to increased stock prices and favorable conditions for companies to expand and invest. Conversely, when the DJIA is down, it can signal economic uncertainty, which can lead to a decrease in stock prices and a risk-averse approach from corporations.

However, it’s important to note that the DJIA is not a perfect indicator of the overall performance of corporations. There are many publicly traded companies that are not included in the DJIA, and the index does not necessarily reflect the performance of smaller or niche companies that may be thriving despite fluctuations in the broader stock market.

How the Dow Jones Affects Business Decisions

Despite its limitations, the DJIA remains an influential gauge of economic health and is closely monitored by businesses and investors alike. Companies often use the DJIA as a benchmark for their own performance and may adjust their business strategies based on market trends and predictions.

For example, if a company notices that the DJIA is consistently trending upwards, they may use this as an opportunity to invest in new initiatives or expand their operations. On the other hand, if the DJIA is consistently decreasing, they may become more conservative in their investments and focus on cost-cutting measures to weather the downturn.

“The Dow Jones Industrial Average is a barometer of how well or how poorly corporate America is doing. Companies are aware of this and may modify their business decisions based on performance of the DJIA.”

The Dow Jones and Blue-Chip Stocks

Blue-chip stocks are stocks in large, well-established companies that are known for their stability and reliability. Because the DJIA is made up of blue-chip stocks, it is often used as a measure of the overall health of these types of companies. Investors may use the DJIA as a way to track the performance of blue-chip stocks and make investment decisions based on their predictions for the broader market.

However, it’s important to note that the DJIA is not the only way to measure the performance of blue-chip stocks. There are other indices, such as the S&P 500, that provide a more comprehensive look at the broader market and may provide a more accurate measure of the overall performance of blue-chip stocks.

The Dow Jones and Government Policies

The Dow Jones Industrial Average (DJIA) is closely linked with government policies, particularly monetary and fiscal policies.

The Federal Reserve, the central bank of the United States, implements monetary policies that affect interest rates, inflation, and the overall economy. The Dow Jones is sensitive to changes in interest rates, as they affect the cost of borrowing, spending, and investment. When interest rates are low, borrowing becomes cheaper and more investors may allocate more capital into equity markets, including the Dow Jones.

This is a key reason why the Dow Jones surged after the Federal Reserve cut interest rates to near-zero levels in response to the COVID-19 pandemic in 2020.

Fiscal policy also plays a role in the Dow Jones’s performance. Government spending and taxation policies can impact economic growth and corporate earnings, which in turn can affect the stock market. For example, a reduction in corporate taxes can boost corporate profits and lead to higher stock prices.

However, government policies can also lead to uncertainty and volatility in the stock market. Changes in policies such as tariffs or regulations can affect the performance of individual companies and industries, and this can, in turn, influence the Dow Jones.

It is therefore important for investors to keep an eye on government policies and their potential impact on the Dow Jones.

How Many Stocks Are in the Dow Jones?

The Dow Jones Industrial Average (DJIA) is composed of 30 large publicly traded companies in the United States. These companies are chosen by the editors of the Wall Street Journal, which is a subsidiary of Dow Jones & Company, based on a number of factors, including market capitalization and industry representation.

The DJIA is often used as a barometer of the overall health of the stock market and the U.S. economy. It is one of the most widely recognized stock market indices, along with the S&P 500 and the Nasdaq composite index.

Dow Jones Index Composition

The following table provides a list of the 30 companies that make up the Dow Jones Industrial Average, as of September 2021:

Company Ticker Symbol
3M MMM
American Express AXP
Amgen AMGN
Apple AAPL
Boeing BA
Caterpillar CAT
Chevron CVX
Cisco Systems CSCO
The Coca-Cola Company KO
Dow Inc. DOW
Goldman Sachs GS
The Home Depot HD
Honeywell HON
IBM IBM
Intel INTC
Johnson & Johnson JNJ
JPMorgan Chase JPM
McDonald’s MCD
Merck & Co. MRK
Microsoft MSFT
Nike NKE
Procter & Gamble PG
salesforce.com CRM
The Travelers Companies TRV
UnitedHealth Group UNH
Verizon Communications VZ
Visa V
Walgreens Boots Alliance WBA
The Walt Disney Company DIS
Walmart WMT

It is worth noting that the Dow Jones Industrial Average is not the same as the Dow Jones Transportation Average or the Dow Jones Utility Average, which track the performance of transportation and utility companies, respectively.

Compared to other major stock indices, such as the S&P 500, the Dow Jones Industrial Average has a smaller number of companies, making it less diversified. However, it is still a valuable tool for investors to track the performance of some of the largest and most influential companies in the United States.

Should I Buy Dow Jones or S&P 500?

Investing in the stock market can be a great way to grow your wealth over time. However, with so many different indices to choose from, it can be difficult to know where to start. The Dow Jones Industrial Average (DJIA) and the Standard & Poor’s 500 (S&P 500) are two of the most well-known indices in the world, but which one is better for stock market investing?

Comparing the Dow Jones and S&P 500

The Dow Jones Industrial Average is made up of 30 blue-chip stocks, including companies such as Apple, Goldman Sachs, and Coca-Cola. The S&P 500, on the other hand, is made up of 500 large-cap stocks from a variety of industries, including technology, healthcare, and finance.

While the DJIA is often seen as a barometer of the overall stock market, the S&P 500 is a broader measure of the U.S. economy. Because it includes more companies and industries, it can provide a more accurate picture of overall market performance.

Another key difference between the two indices is their performance over time. Historically, the S&P 500 has outperformed the DJIA. Over the past 20 years, for example, the S&P 500 has had an average annual return of 6.7%, while the DJIA has had an average annual return of 5.3%. However, past performance is not a guarantee of future results.

Pros and Cons of Investing in the Dow Jones

Investing in the Dow Jones can be a good way to gain exposure to some of the biggest and most stable companies in the world. Because the DJIA is made up of blue-chip stocks, it tends to be less volatile than other indices.

However, investing in the DJIA can also be risky. Because the DJIA is made up of just 30 companies, it may not provide the diversification that many investors are looking for. Additionally, if one of the companies in the DJIA experiences a major downturn, it can have a significant impact on the overall performance of the index.

Pros and Cons of Investing in the S&P 500

Investing in the S&P 500 can provide investors with exposure to a wide range of industries and companies. Because it includes 500 stocks, it can also provide greater diversification than the DJIA.

However, the S&P 500 can also be more volatile than the DJIA. Because it includes more companies and industries, its performance can be affected by a wider range of economic and political factors. Additionally, some of the companies in the S&P 500 may be less stable than the blue-chip stocks in the DJIA.

Which Index is Right for You?

Ultimately, the decision of whether to invest in the DJIA or the S&P 500 will depend on your investment goals and risk tolerance. If you’re looking for a stable, less volatile investment that can provide exposure to some of the largest and most well-known companies in the world, the DJIA may be right for you. If you’re looking for a more diverse investment that can provide a broader measure of the U.S. economy, the S&P 500 may be a better choice.

Of course, you don’t necessarily have to choose one index over the other. Many investors choose to invest in both the DJIA and the S&P 500 as part of a well-diversified investment portfolio.

The Dow Jones and Investing

Investing in the Dow Jones can be a smart investment strategy for those looking to diversify their portfolio. It is important to understand the pros and cons of investing in the Dow Jones to make informed decisions about your investments.

Pros of Investing in the Dow Jones

One benefit of investing in the Dow Jones is the stability of blue-chip stocks. Blue-chip stocks are companies with a long history of stable earnings and are less likely to experience significant fluctuations in the stock market. Additionally, the Dow Jones typically performs well over the long term, making it a good choice for long-term investors.

Another advantage of investing in the Dow Jones is that it provides exposure to a diverse range of industries, including retail, finance, technology, and consumer goods. This diversification helps to mitigate the risk of investing in any one particular industry.

Cons of Investing in the Dow Jones

One disadvantage of investing in the Dow Jones is that it can be volatile in the short term, with significant fluctuations in the stock market. This volatility can be caused by a variety of factors, including changes in interest rates, political instability, or shifts in global markets.

Another potential downside to investing in the Dow Jones is that it may not provide as strong of returns as other investments. While the Dow Jones does typically perform well over the long term, other investments, such as real estate or high-growth stocks, may provide higher returns in the short term.

Diversifying Your Portfolio

Investing in the Dow Jones can be a useful strategy for diversifying your portfolio and mitigating risk. However, it is important to remember that diversification should not be limited to just one index. It is important to diversify across several asset classes, such as stocks, bonds, and real estate, to help protect against potential market fluctuations.

Additionally, it is important to avoid placing all your eggs in one basket. While investing in the Dow Jones can be a smart strategy, it is important to also consider other investment options that may be better suited to your particular financial goals and risk tolerance.

The Future of the Dow Jones

As with any stock market index, the future of the Dow Jones is always subject to change. However, many analysts predict that the Dow Jones will continue to play a significant role in the global economy for years to come.

One potential factor that could impact the future performance of the Dow Jones is the ongoing trade tensions between the United States and other countries. As these tensions continue to simmer, it is possible that they could have a negative effect on the performance of the Dow Jones and other stock market indices.

Another potential factor to watch is the impact of emerging technologies, such as artificial intelligence and blockchain. As these technologies continue to develop, they could have a major impact on the companies that comprise the Dow Jones and the stock market as a whole.

Despite these potential challenges, many analysts remain optimistic about the future of the Dow Jones. As long as there is a demand for reliable investment tools and indicators, the Dow Jones is likely to continue to play an important role in the global economy.

FAQs About the Dow Jones

As one of the most well-known stock market indices in the world, the Dow Jones Industrial Average (DJIA) often attracts questions from investors and those interested in finance. Here are answers to some of the most frequently asked questions about the Dow Jones:

What factors influence the performance of the Dow Jones?

The performance of the Dow Jones is influenced by a variety of factors, including changes in the stock prices of the companies included in the index, economic indicators such as GDP and employment rates, and government policies that impact the stock market.

How is the Dow Jones different from other stock market indices?

The Dow Jones is different from other stock market indices, such as the S&P 500 and the Nasdaq, in several ways. The Dow Jones is comprised of only 30 large-cap companies, while the S&P 500 includes 500 companies and the Nasdaq includes over 2,500. Additionally, the Dow Jones is price-weighted, meaning that higher-priced stocks have a larger impact on the index’s performance, while other indices use market capitalization-weighting.

Can I invest in the Dow Jones?

Yes, it is possible to invest in the Dow Jones. Investors can buy shares of exchange-traded funds (ETFs) that track the performance of the Dow Jones, or they can purchase shares of individual companies included in the index.

Investing in the Dow Jones is a viable option for individuals looking to
participate in the stock market. There are several ways to invest in the Dow
Jones, providing opportunities for both experienced investors and those who are
new to the market.

One of the most common ways to
invest in the Dow Jones is through exchange-traded funds (ETFs) that track the
performance of the index. These ETFs are designed to replicate the movement of
the Dow Jones Industrial Average (DJIA), allowing investors to gain exposure to
the overall performance of the index without having to buy individual stocks.
ETFs are traded on stock exchanges, making them easily accessible for
investors.

By investing in an ETF that tracks
the Dow Jones, investors can benefit from diversification. The DJIA is composed
of 30 large, well-established companies from various industries, including
technology, finance, healthcare, and consumer goods. This diversification helps
spread out the risk associated with investing in individual stocks and provides
investors with exposure to a broad range of sectors.

Another option for investing in the
Dow Jones is to buy shares of individual companies that are included in the
index. The Dow Jones consists of companies that are considered to be leaders in
their respective industries. These companies often have a strong track record
of performance and stability, making them attractive investment options for
many investors.

Before investing in individual
stocks, it is essential to conduct thorough research and analysis. Investors
should consider factors such as the company’s financial health, earnings growth
potential, competitive position within the industry, and overall market
conditions. It is also important to diversify the investment portfolio by
investing in different companies across various sectors to mitigate risk.

Investing in the Dow Jones, whether
through ETFs or individual stocks, requires careful consideration of one’s
investment goals, risk tolerance, and time horizon. It is advisable for
investors to consult with a financial advisor or do thorough research to make
informed investment decisions.

Investing in the stock market,
including the Dow Jones, involves risks. Stock prices can fluctuate
significantly, and there is no guarantee of a positive return on investment. It
is crucial for investors to have a long-term perspective and to be prepared for
potential market volatility.

Furthermore, it is important to keep
track of market trends and stay informed about the companies included in the
Dow Jones. Regularly monitoring the performance of the index and conducting
periodic portfolio reviews can help investors make informed decisions and
adjust their investment strategies as needed.

In conclusion, investing in the Dow
Jones is possible through ETFs that track the index’s performance or by
purchasing shares of individual companies included in the index. By
diversifying their investment portfolio and conducting thorough research, investors
can participate in the stock market and potentially benefit from the long-term
growth and stability associated with the Dow Jones Industrial Average. However,
it is crucial to remember that investing in the stock market carries risks, and
investors should carefully consider their investment goals and consult with
professionals before making any investment decisions.


Should I invest in the Dow Jones or the S&P 500?

Deciding whether to invest in the Dow Jones or the S&P 500 depends on individual investment goals and risk tolerance. Both indices have performed well historically and offer diversification benefits. However, the Dow Jones may be better suited for investors looking for exposure to blue-chip companies, while the S&P 500 provides broader exposure to the stock market.

How does the Dow Jones predict future economic trends?

The Dow Jones is often used as an economic indicator, as it reflects the performance of large, well-established companies with a significant impact on the economy. A rising Dow Jones can indicate a strong economy, while a falling Dow Jones can suggest economic weakness.

The Dow Jones is widely regarded as
a key indicator of future economic trends. As one of the oldest and most
recognized stock market indices, it has the potential to provide insights into
the direction of the economy based on the performance of its constituent
companies. Investors, analysts, and policymakers often monitor the Dow Jones
closely, looking for clues about the overall health of the economy and potential
future developments.

A rising Dow Jones is generally
interpreted as a positive sign for the economy. It suggests that the companies
included in the index, which are often considered industry leaders, are
experiencing growth and generating profits. A strong performance of the Dow
Jones may indicate increased consumer and investor confidence, as well as
positive business conditions. When the Dow Jones is on an upward trajectory, it
can serve as an encouraging signal for economic expansion and overall market
optimism.

Conversely, a declining Dow Jones
may raise concerns about the economy’s future trajectory. A falling Dow Jones
could imply that the index’s constituent companies are facing challenges or
experiencing a slowdown in their business operations. This can lead to a loss
of investor confidence and a cautious approach in the market. A declining Dow
Jones may be an indication of potential economic headwinds, such as weakening
consumer spending, sluggish business activity, or geopolitical uncertainties.

However, it is important to note
that while the Dow Jones can offer valuable insights, it is not infallible, and
its predictive power has limitations. The index represents only a subset of the
overall stock market and focuses on a specific group of companies. Economic
trends are influenced by a multitude of factors, including global events,
policy changes, interest rates, and industry-specific dynamics. Therefore,
relying solely on the Dow Jones as a predictor of future economic trends can be
overly simplistic and may not capture the full complexity of the economic
landscape.

To gain a comprehensive
understanding of future economic trends, analysts and economists rely on a wide
range of indicators and data points. These include indicators such as gross
domestic product (GDP), employment figures, inflation rates, consumer spending,
business surveys, and manufacturing data. Combining multiple indicators
provides a more holistic perspective on the economy and helps to mitigate the
limitations of relying solely on one index like the Dow Jones.

In conclusion, the Dow Jones is often used as an
economic indicator due to its representation of large, influential companies
and its long-standing presence in the financial world. While a rising Dow Jones
is generally associated with a strong economy and a falling Dow Jones may raise
concerns, it is essential to consider a broader range of indicators and data
points to gain a comprehensive understanding of future economic trends. The Dow
Jones provides valuable insights, but it is just one piece of the puzzle in
assessing the overall health and trajectory of the economy.

What is the future of the Dow Jones?

The future of the Dow Jones is subject to a variety of factors, including global economic trends, government policies, and technological advancements. While it is impossible to predict the future with certainty, some analysts predict continued growth for the Dow Jones in the coming years.

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

LAINNYA