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Stocks fall on higher dollar, JPMorgan results

Stocks fall on higher dollar, JPMorgan results

The stock market fell Friday as a rise in the dollar hit commodity prices and JPMorgan Chase & Co.'s fourth-quarter revenue came in weaker than expected.
The drop in stocks comes as major stock indexes stand at 15-month highs and as stocks in Europe fall.
Meanwhile, the government said inflation was tamer than expected last month. The Labor Department said the consumer price index rose a modest 0.1 percent, bringing inflation for all of 2009 to a mild 2.7 percent.
In the first hour of trading, the Dow Jones industrial average fell 47.84, or 0.5 percent, to 10,662.71. The broader Standard & Poor's 500 index fell 5.78, or 0.5 percent, to 1,142.68, and the Nasdaq composite index fell 10.21, or 0.4 percent, to 2,306.53.
Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.67 percent from 3.74 percent late Thursday.