The Dow Jones industrial average ducked under 14,000 quickly Monday morning after closing above the psychological benchmark Friday.
It was the Dow's highest close since October 12, 2007. But the mark quickly eroded Monday after the Census Bureau said factory orders rose less than expected in December, climbing 1.8 percent over November. Economists had predicted a rise of 2.2 percent.
In midmorning trading, the Dow gave up 108.98 points, or 0.78 percent, to 13,901.83. The Nasdaq index shed 19.24 points, or 0.61 percent, to 3,159.86.
The Standard & Poor's 500 lost 10.76 points, or 0.71 percent, to 1,502.41.
The 10-year treasury note rose 12/32 to yield 1.975 percent.
Against the dollar, the euro was $1.3554 from Friday's $1.3651. The dollar was 92.68 yen from 92.78 yen.
In Tokyo, the Nikkei 225 index added 0.62 percent, 69.01 points, to 11,260.35.
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