Weaker-than-expected results from computer maker Dell and homebuilder D.R. Horton helped push stocks lower on Friday as Wall Street headed for its third straight day of losses.

After the benchmark S&P 500 index has jumped 20 percent so far this year, investors were reassessing the global economic outlook and saw few reasons to make big bets.

Dell Inc , the No. 3 personal computer maker, slid 9.8 percent to $14.32 a day after it reported a 54 percent drop in third-quarter profit and sales that missed estimates.

Investors have been watching the technology sector closely after a big run-up, with the S&P information technology sector <.GSPT> soaring more than 70 percent from its March lows.

The technology sector has been expected to share better than others as the recovery takes hold. But on Thursday, tech shares were pummeled after an analyst made bearish comments on semiconductors.

When you see (technology shares) rolling over, you know there's a problem. That's not a sign of a healthy market, said Quincy Krosby, market strategist at Prudential Financial in Shelton, Connecticut. She said tech and bank shares must be a part of a strong market rally.

We're not writing the obituary for this market, but it is consolidating, getting far more careful. It is prudent to take some money and some risk off the table.

The Dow Jones industrial average <.DJI> lost 47.83 points, or 0.46 percent, to 10,284.61. The Standard & Poor's 500 Index <.SPX> fell 6.89 points, or 0.63 percent, to 1,088.01. The Nasdaq Composite Index <.IXIC> dropped 18.21 points, or 0.84 percent, to 2,138.61.

D.R. Horton Inc tumbled 13.6 percent to $10.58 after the homebuilder reported a fourth-quarter loss that was wider than expected and said market conditions were still challenging.

The Dow Jones home construction index <.DJUSHB> declined 4.6 percent, the largest daily decline this month.

Dow component General Electric Co and Vivendi SA were at least $1 billion apart in their valuation of Vivendi's stake in NBC Universal, the Financial Times reported, dampening hopes of a swift sale.

GE shares shed 1.8 percent to $15.48.

Goldman Sachs Group Inc declined 1.4 percent to $170.46 after the Wall Street Journal reported large shareholders have asked the investment bank -- on track to award employees the biggest bonuses in its history -- to pass more profits to investors. A Goldman spokesman said major shareholders had not contacted the company about lowering its bonus pool.

Hess Corp shares rose 2.2 percent to $58.87 after Morgan Stanley upgraded the stock. Hess was one of the few rising shares in the energy sector <.GSPE>, which slipped 1.2 percent.

(Editing by Kenneth Barry)

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