A look at highlights from the day's business news:Â
Dow breaks winning streak Â
Stocks slipped Friday as a strong dollar dragged on commodity prices, giving investors a reason to step back after pushing the Dow, S&P 500 and Nasdaq composite to 18-month highs in the previous session.
Palm's worse-than-expected quarterly loss pummeled the tech and telecom sectors.
The Dow Jones industrial average lost 37 points, or 0.5 percent, after ending the previous session at its highest point since October 1, 2008. The Dow has now broken its winning streak after having closed higher for eight sessions in a row, the longest stretch since last August.Â
The S&P 500 index slid 6 points, or 0.5 percent, after finishing the previous session at its highest point since September 26, 2008. The Nasdaq composite shed 17 points, or 0.7 percent, after ending the previous session at its highest point since August 28, 2008, a nearly 19-month high.Â
Dollar extends gains Â
The dollar rose against major currencies Friday as investors continued to worry about finding a solution for Greece's debt problems.Â
What prices are doing: The dollar climbed 0.5% versus the euro to $1.3539 and soared 1.5 percent against the British pound to $1.5017. Against the Japanese yen, the dollar edged up 0.1 percent to ¥90.49.
Long-term Treasurys inch up as stocks dip Â
Long-term Treasurys rose Friday as stocks inched lower. Shorter term notes were hardly changed.Â
What prices are doing: The benchmark 10-year note fell 4/32 to 99-14/32 and its yield rose to 3.7 percent. The 30-year bond rose 7/32 to 100-24/32 and its yield fell to 4.58 percent. Bond prices and yields move in opposite directions.Â
The 2-year note fell 2/32 to 99-25/32 with a yield of 1 percent. The 5-year note fell 6/32 to 99-6/32 with a yield of 2.46 percent.Â
What's moving the market: Stocks slipped Friday as investors hesitated after all three major indexes posted 18-month highs in the previous session.Â
Oil plunges on Greek debt woes Â
Oil fell Friday as fresh worries over Greece's debt crisis pushed the dollar higher against the euro.Â
What prices are doing: Crude prices for April delivery dipped $1.52 to settle at $80.68 a barrel on Friday, the lowest level in six weeks. May oil contracts, which become active March 23, also dropped $1.64 to $80.90 a barrel.Â
What's moving the market: Oil prices dropped for a second day as the dollar strengthened against the euro. A stronger dollar makes crude, which is priced in U.S. dollars, more expensive for foreign investors, which puts downward pressure on demand and prices.Â
CNNMoney.com reporters Chavon Sutton, Annalyn Censky, Alexandra Twin and Blake Ellis contributed to this report.
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