US stocks fell Wednesday, dragged down by technology shares after analysts said the two biggest makers of computer processor chips may be set for a price war, according to DPA. Industry leader Intel Corp had the second-biggest decline in the blue-chip Dow Jones Industrial Average and rival Advanced Micro Devices Inc also fell. Memory chip maker Micron Technology Inc led the broader Standard & Poor's 500 Index lower after reporting its third straight quarterly loss. Spurring the sell-off was a Morgan Stanley warning to investors that a glut of processor chips could touch off a profit-sapping price war between Intel and AMD. Alcoa Inc, the world's second-largest aluminium company, lost the most among the 30 Dow industrials after analysts speculated its profits will be lower than expected. The S&P 500 lost 7.04 points, or 0.5 per cent, to 1,539.59. The Dow declined 79.26, or 0.6 per cent, to 13,968.05. The technology- heavy Nasdaq Composite Index fell 17.68, or 0.6 per cent, to 2,729.43. The US dollar rose to 70.97 euro cents in New York from 70.66 on Tuesday. The dollar rose to 116.74 Japanese yen from 115.80. Gold fell 60 cents to 735.70 dollars per fine ounce.
