Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.
However, multinationals and commodity companies limited the major U.S. stock indexes' losses as investors bought stocks in sectors that could benefit from the weaker dollar, while energy shares climbed on bets overseas demand would support energy prices.
"Energy is moving as China continues to stockpile and buy all the commodities they can. I think you have that play of a weaker dollar and stronger commodities right now. Multinationals are going to be big plays -- anybody doing anything overseas" will attract attention, he added.
The Dow Jones industrial average (DJI:^DJI - News) dropped 14.81 points, or 0.18 percent, to 8,277.32. The Standard & Poor's 500 Index (^SPX - News) fell 1.33 points, or 0.15 percent, to 887.00. The Nasdaq Composite Index (Nasdaq:^IXIC - News) lost 3.24 points, or 0.19 percent, to 1,692.01.
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