Stocks Drop On Inflation Concerns
Investors' concerns over the economy and potential inflation outweighed a sharp drop in oil prices, sending stocks slightly lower Friday.</br></br>Wall Street was rattled somewhat by the Labor Department's latest producer price index report, which said the PPI rose 0.5 percent in November, an indicator of possible inflation.</br></br>The report overshadowed a drop in crude oil futures after the Organization of Petroleum Exporting Countries agreed to cut oil production.</br></br>The Standard & Poor's 500-stock index was down 1.24, or 0.1 percent, at 1188.00, and the Nasdaq composite index fell 0.94, or 0.04 percent, to 2128.07.</br></br>For the week, the Dow fell 0.46 percent, the S&P 500 dropped 0.27 percent and the Nasdaq was down 0.93 percent.