The Dow Jones industrial average lost 23.79 points to close at 6,540.05, never straying more than 30 points in either direction during the sluggish session.

Most broad-market indicators were slightly lower, pressured by the bond market, where the yield on the 30-year Treasury bond briefly rose to 7.13 percent before settling near late yesterday's 7.10 percent. On Monday, the long-bond yield - a key determinant of the interest rates charged on various loans - hit 7.12 percent, its highest finish since September.

Decliners led advancers by a 6-to-5 margin on the New York Stock Exchange, with 1,116 up, 1,343 down and 846 unchanged. NYSE volume was 421.80 million shares vs. 451.49 million yesterday.

The Standard & Poor's 500-stock list dropped 2.27 to 758.33, and the NYSE's composite index fell 0.93 to 399.36. The Nasdaq composite index lost 13.68 points to 1,235.75, and the American Stock Exchange index rose 0.21 to 563.19.

The early trickle of first-quarter earnings data continued today with reports from General Electric Co., which met analyst expectations, and Chrysler Corp., which slightly exceeded forecasts.

Nearly half of the Dow's loss came from Sears, Roebuck & Co., which slid the equivalent of about 10 Dow points amid news that the retailer, trying to avert legal difficulties, plans to repay bankrupt customers who were pressured to continue paying off their Sears credit cards. Sears said the payments will hurt this year's profits.