P&G shares closed down US$0.22 at US$105.75, despite earnings that came in a penny ahead of expectations.
Investors rewarded ChevronTexaco for better-than-expected results. Its shares closed up US$1.15, or 1.3 percent, at US$91.50.
Declining shares led advancers more than 4 to 3 on the New York Stock Exchange, where volume was 1.63 billion shares.
The Russell 2000 index of smaller companies was down 7.45, or 1.3 percent, at 559.80.
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