Stocks Tumble on Inflation Fears, Stronger Dollar

(TheStreet) -- Stocks were trading nearly 1% lower Friday, driven by rising inflation concerns and a stronger dollar. The Dow Jones Industrial Average was down by 118 points, or 0.9%, at 12,578. The S&P 500 was lower by 12 points, or 0.9%, at 1337, and the Nasdaq was off by 31 points, or 1.1%, at 2832. Financial and conglomerate stocks were bearing the brunt of declines. JPMorgan Chase

, Bank of America

, Travelers

and General Electric

were the Dow's biggest laggards while Pfizer

, Coca-Cola

and Kraft Foods

were showing the strongest gains.

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