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Stocks fall at open as dollar rises

Stocks fall at open as dollar rises

U.S. stocks are down in early trading as a stronger dollar weighs on commodities prices.
A stronger dollar makes commodities more expensive for foreign buyers and can hurt the profits of companies that do business overseas.
Meanwhile, there were plenty of reminders that corporate America is still hurting from the recession.
A person with knowledge of the matter says the government is preparing to extend another multibillion bailout loan to GMAC Financial Services. And health insurer Aetna says it expects to take a fourth-quarter charge of up to $65 million to cover the costs of layoffs and consolidations.
The Dow Jones industrial average is down 37 at 10,508. The Standard & Poor's 500 index is down 4 at 1,121, while the Nasdaq composite index is down 6 at 2,282.


Updated : 2021-05-13 11:56 GMT+08:00