NEW YORK -- The stock market rebound stumbled again today, but the selling remained fairly modest despite a flurry of bad news in the computer-chip sector. Dow off 81.87
The Dow Jones industrial average fell 81.87 points to 8,611.41, about 700 points below the record of 9,337.97 set on July 17. The Dow slipped 21 points yesterday after gaining 290 points the prior two days.
The Standard & Poor's 500 fell 6.46 to 1,091.60, and the technology-heavy Nasdaq composite index fell 10.24 to 1,832.45.
Decliners outnumbered advancers by a 7-to-4 margin on the New York Stock Exchange, with 1,100 up, 1,915 down and 510 unchanged.
NYSE volume totaled 616.03 million shares vs. 630.87 million in the previous session.
The NYSE composite index fell 3.83 to 546.22, and the American Stock Exchange composite index fell 1.99 to 663.60.
The Russell 2000 index of smaller companies fell 4.11 to 401.73.
The benchmark 30-year Treasury bond rose 18/32, or $5.63 per $1,000 bond, pushing its yield down 4 basis points to 5.51 percent.
Semiconductor stocks were among the weakest sectors as Merrill Lynch lowered its rating on Intel Corp. and Texas Instruments Inc. Intel fell $3.56 to $86 and Texas Instruments dropped $1.63 to $58.88. The downgrades came a day following a series of discouraging news from chipmakers Analog Devices Inc., LSI Logic Corp. and National Semiconductor Corp., which issued a warning after yesterday's close.
Overseas, Tokyo's Nikkei stock average fell 0.1 percent, Frankfurt's DAX index fell 1.9 percent and London's FT-SE 100 fell 0.5 percent.