Dow ends 10-day rise, best since '96

U.S. stock markets fell Friday, ending the longest winning streak for the Dow Jones industrial average in nearly 17 years.

The Dow dropped 25.03 points, or 0.17 percent, to 14,514.11. The Standard & Poor's 500 index fell 2.53 points, or 0.16 percent, to 1,560.70, just shy of an all-time high from October 2007. The Nasdaq composite index dropped 9.86 points, or 0.3 percent, to 3,249.07.

The Dow had notched a 10-day winning streak through Thursday, its longest since November 1996.

Trading Friday was tentative because investors feared that rising inflation could 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.

The increase was driven by a spike in gas prices. The core index, which excludes the volatile energy and food categories, increased more modestly.

Stocks opened lower and extended their losses at 10 a.m. after a closely watched index of consumer sentiment fell to its lowest level since the end of 2011. The University of Michigan's preliminary consumer sentiment index dropped 5.8 points to 71.8.

Stocks reversed the losses briefly at midday, then drifted back down in the afternoon.

The yield on the 10-year Treasury note fell to 1.99 percent from 2.06 percent early Thursday, as demand increased for ultrasafe investments.

Among big moves, the cruise-ship operator Carnival Corp. fell 78 cents, or 2.2 percent, to $34.95. The company said passengers had been booking vacations at a slower pace after a series of high-profile problems.

Krispy Kreme Doughnuts Inc. plunged after saying its fiscal fourth-quarter net income dropped sharply and missed expectations. The stock fell 41 cents, or 2.7 percent, to $14.54.