General Electric Leading S&P 500 Index Lower

General Electric Company GE shares are trading lower by $0.75 at $28.47, or nearly 3 percent, in Wednesday's session. That is nearly three times as much as the index's loss of just under 1 percent.

There is no specific news to account for the drubbing other than the company being rumored as potential suitor of Enersys ENS.

After a lower open, it could only mange a $0.06 bounce to $28.96, before resuming its move lower. It just made a new low for the session at $28.40, which coincides with its February 16 low of $28.42.