American stocks fell modestly yesterday, giving the market its third straight losing session amid renewed worry about how much Asia's economic crisis will hurt US companies in 1998.

The Dow Jones industrial average dropped 30.14 points - or 0.39 per cent - to 7,700.74 despite swinging from an early 46point gain to an 88-point loss during the session. The blue-chip barometer has now lost about 172 points in three sessions after rallying 119 points higher on Tuesday.

Declining issues outnumbered advancers by a 12-to-7 margin on the New York Stock Exchange, with 1,105 up, 1,873 down and 473 unchanged.