DOW FALLS BELOW 11,000: The Dow Jones industrial average fell below 11,000 for the first time in a little more than a week. It has fallen for three of the last four sessions and is up 5.3 percent for the year.
TECH STOCKS DISAPPOINT: Shares of Apple Inc. and IBM fell more than 2 percent despite better-than-expected earnings reports. Investors sent shares lower after each company reported that the profitablity of key business lines were falling.
CHINA HIKES INTEREST RATES: China announced that it was increasing a key interest rate, which should slow that country's rapid growth.