Stocks closed mostly lower in New York yesterday, ending the market's brief respite from a month-long sell-off. Investors, unnerved by yet another earnings warning from a high-tech firm, once again unloaded any stock perceived as too risky.

Old-economy companies appeared to fare better as investors looked for a safe haven, but the market, continuing a recent pattern, could not hold on to its gains.

Investors concerned that third-quarter results would not justify expensive stock prices have been unloading shares and taking their profits since the beginning of September. In most cases, the sell-offs occurred after high-profile companies, including Intel and Apple, warned of disappointing earnings.