BEIJING — Stocks fell on Wall Street Friday and are on track for a mixed finish in a week that was heavy with reports showing that inflation, though broadly cooling, remains stubborn.
Technology stocks were the biggest weights sinking the market. Software maker Adobe slumped 14.1% after giving investors a weak revenue forecast. A report on consumer prices this week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January. Another report on prices at the wholesale level also showed inflation remains hotter than Wall Street expected.
“You can kind of look in either direction and find a find a reason to be concerned about equities,” said Brian Nick, senior investment strategist at The Macro Institute.
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