Stocks Slide At Friday's Open On Rise In CPI

NEW YORK (MarketWatch) -- U.S. stocks on Friday opened sharply lower after the government reported consumer prices climbed 0.8% in November, higher than expected, bolstering worry the increasing cost of energy and other goods would hurt the economy.

The Dow Jones Industrial Average fell 105.52 points to 13,412.44.

The S&P 500 dropped 12.14 points to 1,476.27 and the Nasdaq Composite fell 21.93 points to 2,646.56.

U.S. stocks remained under pressure Thursday, closing mixed, though Honeywell International's earnings forecasts helping lift sentiment on industrials. The Dow ended up 41.1 points, while the Nasdaq Composite Index ended the day down 2.65 points.

The consumer price index reading, led by higher prices for gasoline, proved higher than the 0.7% that analysts polled by MarketWatch expected, with the core rate up 0.3%, as expected. .

The dollar strengthened against most other major currencies, adding 0.6% against the yen at 113.02 yen. The euro gave up 0.9% at $1.4498.

European shares were mixed, with the U.K.'s FTSE 100 index up 0.2%, while the German DAX 30 index lost 0.3%.

Asian markets were broadly lower. Financials in Japan were pressured after the Bank of Japan's closely watched tankan survey showed weaker-than-expected business sentiment.

By Kate Gibson