A house of cards fell today, and Dow Chemicals was one of the more recognizable names to get hit by the mess.  Rohm & Haas and the country of Kuwait are the other two; as a result, the companies’ stocks are now declining, and the nation could lose money in addition to some face.

Eric Martin pretty well encapsulates what happened.  He reports, “Dow had agreed to buy Rohm & Haas to gain more lucrative specialty chemicals that serve electronics and coatings markets.”  Then, “Kuwait backed out of a deal to buy 50 percent of Dow Chemical’s plastics unit, eliminating proceeds earmarked for the takeover.”

As for the promised fallout, “Dow Chemical, the largest U.S. chemical maker, fell 19 percent to $15.32. Rohm & Haas, the world’s biggest maker of acrylic-paint ingredients, lost 16 percent to $53.34.”

Kuwait, meanwhile, is almost sure to have more trouble finding business partners in the future.  Another possible fate: making $2.5 billion in penalty payments for its desertion.

But at least the DJIA and the Nasdaq did sort of all right today, losing just 0.37 percent and 1.30 percent, respectively.