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Wall Street drops as banks temper optimism


    NEW YORK (Reuters) - Stocks opened lower on Friday after Britain's Lloyds Banking Group announced bigger-than-expected losses, offsetting optimism over the U.S. mortgage subsidy plan and economic stimulus.

    The Dow Jones industrial average fell 29.15 points, or 0.37 percent, to 7,903.61. The Standard & Poor's 500 Index shed 4.03 points, or 0.48 percent, to 831.16. The Nasdaq Composite Index lost 5.17 points, or 0.34 percent, to 1,536.54.

    (Reporting by Chuck Mikolajczak, Editing by Chizu Nomiyama)