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US STOCKS-S&P 500, Dow close lower on financial worries

Tue Jul 15, 2008 4:08pm EDT

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NEW YORK, July 15 (Reuters) -The Dow and the S&P 500 fell on Tuesday on worries about the success of a government plan to rescue mortgage finance companies Freddie Mac (FRE.N) and Fannie Mae (FNM.N) and to stabilize the broader financial sector.

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It was the first time the Dow industrials closed below 11,000 since July 2006.

The Dow Jones industrial average .DJI was down 93.39 points, or 0.84 percent, at 10,961.80. The Standard & Poor's 500 Index .SPX was down 13.34 points, or 1.09 percent, at 1,214.96. The Nasdaq Composite Index .IXIC was up 2.84 points, or 0.13 percent, at 2,215.71. (Reporting by Kristina Cooke; Editing by Leslie Adler)

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