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 JPM, Bank of America BAC, Travelers TRV and General Electric GE were the Dow's biggest laggards while Pfizer PFE, Coca-ColaKO and Kraft FoodsKFT were showing the strongest gains. Continue reading the article.