Stocks retreated from a record high set earlier this week on Wall Street.

The S&P 500 fell 0.7% Friday. The Dow Jones Industrial Average fell 190 points, or 0.5%, and the Nasdaq fell 1%.

Treasury yields edged higher in the bond market.

Adobe slumped after giving investors a weak revenue forecast.

Investors closed out a week of economic reports that showed inflation, though broadly cooling, remains hotter than expected. The reports have raised concerns about the Federal Reserve's next move on interest rates, but Wall Street still sees potential for a cut in June.