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U.S. stocks down, Dow below 10,000

NEW YORK, July 23 (UPI) -- The Dow Jones industrials fell below the 10,000-mark Friday for the first time since May 24 in the wake of disappointing U.S. earnings outlooks.

The Dow Jones lost 88.11 points, or 0.88 percent,to close at 9,962.22. The Nasdaq composite Index sank 39.97, or 2.1 percent, to 1,849.09 and the Standard & Poor's 500-stock index shed 10.64, or 0.97 percent, to 1,086.20.

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The market was affected by concerns over Microsoft's full-year outlook and Coca-Cola's earnings drop.

Bonds were higher as the 10-year Treasury note rose 1/8 point, or $1.25 for each $1,000 invested. The yield, which moves inversely to price, slipped to 4.432 percent.

The dollar was stronger, trading at 110.13 yen, up from 109.72 late Thursday in New York, while the euro fell against the dollar to $1.2103 from $1.2251.

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