The Dow Falls 199 Points, Nasdaq Drops 46

The Dow fell 198.94 points to close at 13,266.73, the Nasdaq dropped 45.80 points to close at 2,541.38, and the S&P 500 lost 26.66 points to close at 1,490.72. The Dow has falled 410 points in the past three sessions, Separately, Oil gained $0.97 a barrel to close at $66.93.

Volume was modest with 3.63 billion shares trading on the NYSE and 2.43 billion trading on the Nasdaq. Decliners topped Advancers by a margin of 30:3 on the NYSE and 24:7 on the Nasdaq.

In individual stories, DynCorp International (NYSE: DCP) gained 22.9% after reporting Q1 earnings of $0.33 per share, 5 cents better than estimates ($0.28). Revenues came in at $552.3 million. Sees FY08 EPS of $1.00-$1.10 versus the consensus of $1.00. Sees FY08 revs of $2.3-$2.4 billion. Company also announces $10M stock buyback. Volt Information Sciences, Inc. (NYSE: VOL) lost 15.7% after reporting Q2 EPS of $0.28, 13 cents worse than estimates. Revenues were $568.2 million vs. $612 million consensus.

Investors will also be looking for economic data on Trade Balance (8:30AM EST)

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