US Stocks Close Mixed as Fed Officials Raise Inflation Concerns

The US stock market closed mixed on Friday after Federal Reserve officials raised concerns about inflation. The Nasdaq Composite dropped 138.93 points, or 0.52 percent, to finish at 26,402.42.

Kevin Warsh, the new head of the Federal Reserve, echoed his predecessor's position that a rate hike is still on the table if underlying inflation does not move towards the Fed's objective quickly enough.

The Dow Jones Industrial Average slipped just 0.02 percent to close at 53,559.99, while the S&P 500 fell 19.23 points, or 0.25 percent, to end at 7,711.76.