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The Boston Globe

Business

US stocks close lower, ending Dow’s 10-day rally

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Stocks fell, ending the longest winning streak for the Dow average in nearly 17 years. Trading Friday was tentative because investors fear that rising inflation will cause the Federal Reserve to back off from policies designed to boost markets. A rise in consumer prices in February also weighed on indexes. ‘It’s real and it’s a drag, and I think people are growing concerned that it can get out of control quickly,’ one fund manager said. Cruise ship operator Carnival fell as passengers have been booking vacations at a slower pace after a series of mishaps. And Krispy Kreme fell after the doughnut maker reported a drop in fourth-quarter net income.

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