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Stocks open down; Bank revenues, Google disappoint

Stocks open down; Bank revenues, Google disappoint

Stocks are opening lower after Citigroup and Bank of America reported lower revenues. Google fell after its earnings came in below analysts' estimates.
Index futures had been up earlier following stronger earnings and a healthy outlook from General Electric.
Citi and BofA joined JPMorgan Chase in reporting higher earnings this week as loan losses fell. However, the major banks are also seeing lower trading revenues because of the stock market's plunge this spring.
Shortly after the opening of trading, the Dow Jones industrial average is down 76 points, or 0.7 percent, at 10,283. The Standard & Poor's 500 index is down 9 points, or 0.8 percent, at 1,087. The Nasdaq composite index is off 18 points or 0.8 percent at 2,231.