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Wall Street falls on tech and financials

    NEW YORK (Reuters) - Stocks fell on Monday as tech companies were hurt by concerns over waning consumer spending and financials stumbled ahead of results from Goldman Sachs and Morgan Stanley .

    * JPMorgan Chase was the Dow's biggest drag, falling 5.9 percent to $29.12, after Merrill Lynch downgraded the bank's stock and forecast a fourth-quarter loss.

    * The Dow Jones industrial average <.DJI> was down 89.20 points, or 1.03 percent, at 8,540.48. The Standard & Poor's 500 Index <.SPX> fell 11.98 points, or 1.36 percent, at 867.75. The Nasdaq Composite Index <.IXIC> lost 36.10 points, or 2.34 percent, at 1,504.62.

    (Reporting by Leah Schnurr; Editing by James Dalgleish)

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