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Dow industrials sharply fall

NEW YORK: US stocks fell ahhead of midday, with the Dow Industrials tumbling more than 40 points on a sell-off in shares of International Business Machhines.

The Dow was down 43 points, or 0.75 percent, at 5578 while declines fed advancing issues by about 11 to nine. U.S. Treasuries were lower, with the long bond off 2/32 to yield 6.80 percent.

IBM initially rallied on stronger than forecast first quarter results but reversed direction and fell 2-7/8 to 112-7/8 after the company said it saw across the board competition in its hardware business.-Reuter