Wall Street lower on Dell's earnings, Trichet remark

Wall Street continued the previous decline Friday, after the technology giant Dell posted disappointing earnings and European Central Bank (ECB) President Jean-Claude Trichet said policy makers will withdraw emergency cash gradually.

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

Technology stocks led the downward slide, after Dell reported a 54-percent drop in net income and a 15 percent decline in revenue in its latest quarter. Both declines were bigger than anticipated and Dell shares tumbled nearly 10 percent.

Meanwhile, the dollar rose and pressured stocks again, as the rising dollar hurt the price of energy and basic materials.

The Dow Jones fell 52.29 to 10,280.15. Broader indexes also went lower. The Standard & Poor's 500 index dipped 7.27 to 1,087.63 and the Nasdaq fell 18.17 to 2,138.65.

Source: Xinhua