Stocks retreated from a record high set earlier this week on Wall Street.
The S&P 500 fell 0.6% Friday. The Dow Jones Industrial Average fell 190 points, or 0.5%, and the Nasdaq fell 1%. Treasury yields edged higher in the bond market. Adobe slumped after giving investors a weak revenue forecast.
Investors closed out a week of economic reports that showed inflation, though broadly cooling, remains hotter than expected. The reports have raised concerns about the Federal Reserve’s next move on interest rates, but Wall Street still sees potential for a cut in June.
On Friday:
The S&P 500 fell 33.39 points, or 0.6%, to 5,117.09
The Dow Jones Industrial Average fell 190.89 points, or 0.5%, to 38,714.77.
The Nasdaq composite fell 155.36 points, or 1%, to 15,973.17.
The Russell 2000 index of smaller companies rose 8.15 points, or 0.4%, to 2,039.32.
For the week:
The S&P 500 is down 6.60 points, or 0.1%.
The Dow is down 7.92 points, or less than 0.1%.
The Nasdaq is down 111.94 points, or 0.7%.
The Russell 2000 is down 43.39 points, or 2.1%.
For the year:
The S&P 500 is up 347.26 points, or 7.3%.
The Dow is up 1,025.23 points, or 2.7%.
The Nasdaq is up 961.82 points, or 6.4%.
The Russell 2000 is up 12.25 points, or 0.6%.
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