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Looking for better signs, stocks fall for a third day

NEW YORK - Wall Street ended a mostly down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

Stocks fell yesterday for the third straight day as a disappointing earnings report from computer-maker Dell Inc. weighed on technology shares. The Nasdaq composite index, with a big representation of tech stocks, logged the weakest performance.

Demand for safe-haven investments rose Thursday and again yesterday after Dell's report and as European Central Bank president Jean-Claude Trichet said the ECB planned to start reining in some of its stimulus programs.

Investors seeking safety pushed into the dollar and other investments seen as being stable such as short-term Treasurys. The yield on the three-month T-bill, which moves opposite its price, was flat at 0.02 percent from late Thursday.

"Investors seem to need a constant reassurance with where we are in the economic recovery," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group in San Diego. "We just haven't gotten it in the past few days."

The Dow slipped 14.28, or 0.1 percent, to 10,318.16. It ended the week up 0.5 percent because of steep gains Monday after an improvement in retail sales.

The broader Standard & Poor's 500 index fell 3.52, or 0.3 percent, to 1,091.38, while the Nasdaq fell 10.78, or 0.5 percent, to 2,146.04.

For the week, the S&P 500 index fell 0.2 percent and the Nasdaq lost 1 percent. For November, those indexes are each up about 5 percent, while the Dow is up about 6 percent.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume was 1.1 billion shares, in line with Thursday.

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