Shares take a nose-dive with airline

Wall Street stocks fell yesterday as an encouraging string of profit reports was disturbed by some disappointing news from Boeing…

Wall Street stocks fell yesterday as an encouraging string of profit reports was disturbed by some disappointing news from Boeing. The Dow Jones industrial average fell 25.79 points to 8,034.65 after nearly erasing an earlier 66point deficit. The Dow had risen a combined 213 points on Monday and Tuesday, quickly recovering last week's heavy losses.

Most broad-market measures also paused in this week's rebound, which was triggered by strong third-quarter reports from IBM, Microsoft, Citicorp, Chase Manhattan and AT and T.

Boeing warned it will report an unexpected quarterly loss and said its earnings will be hurt next year because of problems keeping up with its booming orders for aeroplanes.

Declines outnumbered advances by a 4-to-3 margin on the New York Stock Exchange, with 1,228 up, 1,649 down and 543 unchanged.

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The Standard and Poor's 500stock list fell 3.79 to 968.49.