Trader Joseph Lawler, right, works on the floor of the New York Stock Exchange Tuesday, March 12, 2013. Stocks are edging lower on Wall Street in early trading following a seven-day rally. (AP Photo/Richard Drew)
US stocks close lower, ending winning streak
Published: 08:20:28 PM, Fri 15 March 2013 UTC
NEW YORK (AP) — U.S. stocks fell Friday, ending the longest winning streak for the Dow Jones industrial average in nearly 17 years.
The Dow dropped 25 points to close at 14,514. The Standard & Poor's 500 index fell two points to 1,560. The Nasdaq composite index dropped nine points to 3,249.
The Dow notched a 10-day winning streak through Thursday, its longest since November 1996.
Trading was tentative because investors fear that rising inflation will cause the Federal Reserve to retreat from policies aimed at boosting markets. The government said that consumer prices increased in February at the fastest pace in more than three years.
Declining stocks outpaced advancing ones on the New York Stock Exchange. Volume was above average at 4.9 billion shares.
Tags:
ap, federal reserve, new york stock exchange, dow, dow jones & company, points, york stock exchange, thursday, jones industrial average, exchange-traded fund, nasdaq composite index, american stock market indices, poor, standard, investors, friday, dow jones industrial average, nasdaq, stock, business, inflation, policies, stocks, shares, new york, trading, volume, fastest pace, longest winning streak, winning streak, u.s. stocks, consumer prices, panic of 1907, 10-day winning streak
