Summary Box: Dow falls back below 11,000

AP News
Posted: Oct 19, 2010 4:57 PM
Summary Box: Dow falls back below 11,000

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.