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July 19, 2013 AT 11:23 AM
Stocks edged back from record levels in early trading, led by a slump in the technology sector after Microsoft and Google reported disappointing earnings. Microsoft fell sharply after the company wrote off $900 million for expected losses on its Surface tablet and reported declining revenues for its Windows operating system. Google dropped after it reported revenues that fell below analysts' forecasts, partly because the Internet search leader's ad prices took an unexpected turn for the worse.