NEW YORK, Dec. 30 (UPI) -- Stocks fell Tuesday in late-morning trading amid a lack of market-moving news and investors' desire for a breather following Monday's gains.

The Dow Jones industrial average lost 19.48 points, or 0.19 percent, to 10,430.52 in late morning trading, the Wall Street Journal reported.

The Nasdaq composite index shed 3.53, or 0.18 percent, to 2,002.95, while the Standard and Poor's 500 stock index slipped 1.08, or 0.10 percent, to 1,108.40.

Among stocks to watch, FedEx Corp. (NYSE:FDX) said early Tuesday it has agreed to buy Kinko's for $2.4 billion in cash, significantly increasing FedEx's presence in the retail-shipping market.

The 10-year Treasury note fell 3/8 point, or $3.75 for each $1,000 invested. The yield, which moves inversely to price, rose to 4.29 percent.

The dollar weakened against yen, closing at 106.89, down from 107.04 late Monday in New York, while the euro rose against the dollar to $1.2514 from $1.2486 in the previous session.

The Nikkei 225 Stock Average climbed 176.02, or 1.7 percent, to 10,676.64 in a half-day session.

FedEx buys Kinko's for $2.4 billion

MEMPHIS, Dec. 30 (UPI) -- Memphis, Tenn., based FedEx said Tuesday it has agreed to buy Kinko's, the business services retailer, for $2.4 billion in cash, CNN reported.

FedEx, an international package delivery service, will buy Kinko's from Clayton, Dubilier & Rice, a global private equity investment firm, which owns about 75 percent of outstanding Kinko's shares, all of which are privately held.

"The FedEx (NYSE:FDX) and Kinko's combination will substantially increase our retail presence worldwide and will enable both companies to take advantage of growth opportunities in the fast-moving digital economy," said Frederick W. Smith, CEO of FedEx.

FedEx said the deal is expected to close before April.

Kinko's operates about 1,200 stores in about 110 countries, with an estimated annual revenue of about $2 billion.

FedEx, which operates in 215 countries, said it "plans to significantly expand" the global reach of Kinko's stores.

Earlier this year, FedEx competitor United Postal Service bought former Kinko's competitor Mail Boxes Etc. and re-named about 3,000 Mail Boxes Etc. stores "UPS Stores."

Parmalat chief in third day of grilling

MILAN, Italy, Dec. 30 (UPI) -- Prosecutors in Milan continued interrogating Calisto Tanzi, the founder of Parmalat, Tuesday on suspicion of milking a fortune from the dairy company.

The worldwide conglomerate now faces insolvency, with debts estimated to be as high as $16.2 billion, news reports said.

Tanzi and 19 past and present executives and outside auditors, are being investigated over allegations of fraudulent bankruptcy, fraud, false auditing and market rigging.

The effects are being felt worldwide. The Australian newspaper said Parmalat Australia's accounts indicate huge inter-company loans exist between the Australian operation and the Italan parent company. Last calendar year Parmalat Australia owed Parmalat in Italy more than $217 million, up from $189 million the year before.

Enrico Bondi, the industrialist appointed to sort through the rubble, has 18 months to restructure the company, before creditors can call in tens of billions of dollars in debts.

Tanzi resigned earlier this month as Parmalat's chairman and CEO. The company employs 36,000 people in 29 countries and sells about $9.2 billion worth of milk, yogurt, juice and other products a year.

FDA moves to ban ephedra

WASHINGTON, Dec. 30 (UPI) -- The U.S. health agency in Washington has decided it is time to move against a dietary supplement, the first occasion the agency has taken such a step.

The Wall Street Journal reported the Food and Drug Administration will announce Tuesday it was banning the herbal weight-loss treatment ephedra.

Health and Human Services Secretary Tommy Thompson is expected to join FDA Commissioner Mark McClellan as he announces the FDA is moving towards banning the use of ephedra in dietary supplements, a senior administration official said.

They are also expected to provide details for implementing the ban through a formal rulemaking that will likely take months to go into effect.

The action will set a precedent for how the FDA deals with the alleged risks posed by supplements and could draw litigation from manufacturers who dispute the agency's assertion that ephedra, also known as ma huang, is a proven health risk.

Once widely taken to enhance athletic performance and as a weight-loss aid, ephedra increasingly has been linked to heart problems and strokes and was fingered in the death earlier this year of 23-year-old Baltimore Orioles pitcher Steve Bechler.