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NEW YORK (AP) _ Stocks extended their decline Monday, with the Dow Jones industrials falling more than 50 points in the opening minutes, compounding Friday's 390-point skid.

With no news developments to counteract investors' disappearing confidence, stocks could do nothing but continue a precipitous drop that began nine weeks ago.

The Dow fell through 8,000 and was trading at the 7,962 level, down 57 points, while the Nasdaq composite index was down about 11 at the 1,307 level and the broader Standard & Poor's 500 index was off 5 at the 842 level.

On Friday, the Dow suffered its seventh-largest point drop, falling 390.23, to 8,019.26, a loss of 4.6 percent.The Nasdaq fell by a smaller percentage, 2.8 percent, dropping 37.80 to 1,319.15, and the S&P 500 lost 33.80, or 3.8 percent, to 847.76.

With the market's downward momentum seemingly relentless, stocks were expected to continue their slide Monday, at least at the opening of trading. Analysts warned that even if prices turned around later in the session, it would be a bounce off Wall Street's lows, and not an indication that the bear market was ending.

Amid corporate accounting scandals and vanishing investor faith in earnings, stocks have tumbled since mid-May, sending the three major indexes falling through the closing lows set after Sept. 11.

Since May 17, the last time all three indexes had weekly gains, the Dow has dropped 2,333.82 points, or 22.5 percent.

The Nasdaq has fallen 422.24, or 24.3 percent, and the S&P has tumbled 258.83, or 23.4 percent.