US stocks fell on Thursday after Standard & Poor's cut the debt ratings of General Motors Corp and Ford Motor Co to junk status, dealing a blow to major automakers and companies that supply them. General Motors was down 5.7 percent to $30.92 while Ford fell 5 percent to $9.66. The downgrade reversed part of Wednesday's market rally. US stocks rose sharply on Wednesday after a buying spree was sparked by billionaire Kirk Kerkorian's offer to more than double his stake in GM. The Dow Jones industrial average was down 56.76 points, or 0.55 percent, at 10,327.88. The Standard & Poor's 500 Index was down 5.74 points, or 0.49 percent, at 1,169.91. The Nasdaq Composite Index was down 6.51 points, or 0.33 percent, at 1,955.72.
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