Thursday stocks reverse course, give up morning’s gains

Dow now at 10,275, down 108 points.

NEW YORK (AP) — Stocks have reversed course and given up their big gains in afternoon trading Thursday.
A strengthening dollar and profit-taking have helped drag stocks from the lofty levels they reached earlier in the day. The Dow Jones industrial average fell 38 points in afternoon trading. It had been up as much as 105 points in morning trading after index components Caterpillar Inc., Travelers Cos. and McDonald’s Corp. all beat earnings expectations and AT&T Inc. matched forecasts.
Once again Bank of America Corp. hurt the Dow as it continues to be dogged by worries about whether investors will force the bank to buy back mortgages it originated.

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