The Dow Drops 149 Points, Nasdaq Falls 32

July 20, 2007 4:39 PM EDT

The Dow dropped 149.33 points today to close at 13,851.08, the Nasdaq fell 32.44 points to close at 2,687.60 and the S&P 500 dipped 18.98 points to close at 1,534.10. Oil fell $0.35 to close at $75.57.

Volume was modest with 3.05 billion shares trading on the NYSE and 2.38 billion on the Nasdaq. Decliners topped Advancers on the NYSE by a margin of 24:8 and 22:8 on the Nasdaq.

In individual stories, NUCRYST Pharmaceuticals (Nasdaq: NCST) gained 162% after announcing that the FDA has granted 510(k) clearance for a prescription topical cream containing NPI 32101, the company\'s patent-protected nanocrystalline silver, as a broad-spectrum antimicrobial barrier.

Google (NASDAQ: GOOG) fell 5.2% after reporting Q2 earnings of $3.56 per share, versus the consensus of $3.59. Total revenues came in at $3.87 billion. Revs ex-TAC at $2.72 billion versus the consensus of $2.68 billion.

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