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NEW YORK (AP) — The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe. The Dow, down almost 104 points, had its 10th triple-digit move in 16 trading days. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses. Mounting deficits in weaker European economies including Greece, Portugal and Spain have raised ques- tions about the health of the global financial sys- tem. That compounded concerns about growth in China and proposed U.S. bank regulations took the market down from a 15- month high reached in Jan- uary. Greece's finance minis- ter said Monday the gov- ernment is preparing to boost some taxes to shore up its finances. But civil servants opposed to cut- backs have pledged to strike on Wednesday. Brett Hryb, a portfolio manager with MFC Global Investment Management in Toronto, said the latest concern is that the finan- cial troubles in a country like Greece, whose econo- my is small compared with the rest of Europe, will spill into other countries. ''Clearly Greece itself is nothing. It's just a blip. It's what the contagion could be,'' he said. Monday's drop extends the stumble the market began in mid-January. At that time, China announced plans to contain economic growth and the Obama administration pro- posed rules to restrict trad- ing by large financial insti- tutions. The Dow fell 103.84, or 1 percent, to 9,908.39. On Thursday, the Dow traded below the psychological barrier of 10,000 for the first time since November. It hadn't closed below that mark since Nov. 4. The Dow is still up 51.3 per- cent since March. The broader Standard & Poor's 500 index fell 9.45, or 0.9 percent, to 1,056.74, while the Nasdaq compos- ite index fell 15.07, or 0.7 percent, to 2,126.05. Bond prices edged higher, pushing yields lower. The yield on the benchmark 10-year Trea- sury note was flat at 3.57 percent from late Friday. The dollar fell against other major currencies, while gold rose. Crude oil rose 70 cents to settle at $71.89 per bar- rel on the New York Mer- cantile Exchange. Questions about the global economy have interrupted a 10-month climb in stocks, which hit 12-year lows last March. The Dow is down 817 points, or 7.6 percent, from its recent high of 10,725.43 on Jan. 19. Jerry Webman, chief economist at Oppen- heimerFunds Inc., said he doesn't expect that prob- lems with rising debt loads in Europe will cascade into other parts of the world's economy, but he remains cautious. ''Right now, when any- body says the word 'con- tained' I start to tremble,'' he said, referring to his skepticism about those who downplay worries about Greece and other countries with rising deficits. Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.6 billion Friday. The Russell 2000 index of smaller companies fell 6.49, or 1.1 percent, to 586.49. Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 0.9 per- cent, and France's CAC-40 rose 1.2 percent. Earlier, Japan's Nikkei stock aver- age fell 1.1 percent. 8B – Daily News – Tuesday, February 9, 2010 Lic#381307 Clint Heiber & Russ Harman owners ALSCO, INC. Since 1948 535 Antelope Blvd., Red Bluff (530) 527-4001 • PVC PIPE & FITTINGS • LAWN AND GARDEN SUPPLIES • DESIGN & INSTALLATION ON ALL SHAPES & SIZES OF IRRIGATION PROJECTS • AGRICULTURE & DOMESTIC PUMPS Mon.-Fri. 8am-5pm Sat. 8am-12pm Red Bluff Transmission • Automatic • Manual • Computer Diagnosis • Clutches • Transfer Cases • CV Axles CALL TODAY! 529-4493 440 Antelope Blvd. #12 25 years professional experience. 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