* Manufacturers, financials down as U.S assets sell off

* Weaker dollar boosts multinationals, commodity firms

* Dow down 0.2 pct; S&P off 0.2 pct, Nasdaq off 0.2 pct

For up-to-the-minute market news click [STXNEWS/US] (Updates with Exxon Mobil, oil prices in new paragraphs 11-12)

By Edward Krudy

NEW YORK, May 22 (Reuters) - U.S. stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.

Shares of big manufacturers such as Caterpillar Inc (CAT.N: Quote, Profile, Research), down 3.5 percent at $34.31, and financials such as Bank of America (BAC.N: Quote, Profile, Research), down 3 percent at $11.07, led the decline. Investors have reduced positions in U.S. assets due to concerns about the country's debt.

However, multinationals and commodity companies limited the major U.S. stock indexes' losses as investors bought stocks in sectors that could benefit from the weaker dollar, while energy shares climbed on bets overseas demand would support energy prices.

McDonald's Corp (MCD.N: Quote, Profile, Research), the largest fast-food restaurant chain, shot up 2.5 percent to $57.08 and provided the biggest boost to the Dow Jones industrial average.