We use external magnetic fields to identify the band edge emitting sta
te in CdSe quantum dots. The field dependence of emission decays and L
O phonon spectra show the importance of exciton spin dynamics in the r
ecombination mechanism. To interpret our results we calculate the band
edge exciton structure, including the effects of the electron-hole ex
change interaction and a nonspherical shape. The exchange term, neglig
ible in the bulk, is strongly enhanced by quantum confinement and allo
ws the observation of an optically passive ''dark'' excitonic state.