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Business

Stocks close with losses, despite recovery

An American flag and Wall Street street sign

An American flag and Wall Street street sign outside the New York Stock Exchange in Manhattan on July 15, 2013. Credit: AP / Mark Lennihan

Financial markets closed with losses Monday, despite recovering from an early morning slide that took the Dow Jones industrial average down 178 points.

At the close on Wall Street, the Dow Jones was down 41.93 points, or 0.25 percent, at 17,071.22. The Standard & Poor's 500 index was off 5.05 points, or 0.25 percent, at 1,977.80, and the Nasdaq composite lost 6.34 points, or 0.14 percent, to 4,505.85.

Investors were nervous about the latest geopolitical unrest, this time in Hong Kong as police clashed with protesters demanding democratic reforms in the former British colony.

DreamWorks Animation soared 26 percent after media reports suggested the animation studio is in discussions with Japan's SoftBank about a possible deal. Shares closed up $5.82 at $28.18.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.49 percent.

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