U.S. stocks lower on worse-than-expected corporate earnings

Wall Street declined on Friday after technology giant Dell and homebuilder D.R. Horton Inc. posted disappointing earnings.

Technology stocks led the downward slide, after Dell reported a54-percent drop in net income and a 15-percent decline in revenue in its latest quarter, much worse than anticipated.

Shares of Dell tumbled nearly 10 percent, or 1.58 U.S. dollars, to 14.29 dollars.

Stocks also slipped as European Central Bank (ECB) President Jean-Claude Trichet said policy makers will withdraw emergency cash gradually.

Trichet said the ECB will remove liquidity in order to ensure the bank doesn't fuel inflation.

The dollar rose for a second straight session on Friday and pressured stocks, as investors cut exposure to risky assets.

The Dow Jones fell 14.28, or 0.14 percent, to 10,318.16. Broader indexes also went lower. The Standard & Poor's 500 index dipped 3.52, or 0.32 percent, to 1,087.63 and the Nasdaq fell 10.78, or 0.50 percent, to 2,146.04.

Source: Xinhua