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Market Sags Below 10,000

Wall Street skidded further Friday, sending the Dow Jones industrials back below 10,000 as disappointments from Microsoft Corp. and Inc. deepened investors' dread of a second-half earnings slump.

All three indexes ended the week lower for the fourth straight week, as investors sold stocks across all sectors and industries, with technology and consumer staples taking the brunt of the selloff. The Nasdaq composite index fell to its lowest point of the year.

The drop was triggered by lower-than-expected earnings from Microsoft — a rare miss that unnerved investors. And Wall Street saw's lower-than-expected earnings and revenues as a potential sign that consumer spending was slowing.

According to preliminary calculations, the Dow Jones industrial average fell 88.11, or 0.9 percent, to 9,962.22. It was the first time the Dow fell below 10,000 since May 24.

The Nasdaq fell 39.97, or 2.1 percent, to 1,849.09.