Stock markets fell Tuesday after the Dow Jones industrial average reached an eight-month high shortly after midday but then fell back. Investor anxiety over inflation and oil prices was heightened by a Labor Department report that energy costs led a jump in producer prices last month.
A better-than-expected monthly retail sales report that might have supported the market was undercut by a weak sales outlook from retailer Target.
Wall Street's retreat also came despite crude oil settling below $57 a barrel for the first time since June 30. A barrel of light crude dropped 71 cents to $56.98 on the New York Mercantile Exchange.
The Dow lost 10.73, or 0.1 percent, to 10,686.44. During the session, the Dow rose nearly 45 points to reach its highest level since March 15.
The Standard & Poor's 500-stock index finished down 4.75, or 0.39 percent, at 1,229.01, and the Nasdaq composite index fell 14.21, or 0.65 percent, to 2,186.74.
The yield on the 10-year Treasury note fell to 4.56 percent, from 4.61 percent late Monday. The dollar was mostly lower against other major currencies, and gold prices changed little.
Target, which said late Monday that it expected November sales growth to be less than it predicted earlier, fell $4.13, to $54.30.
Vodafone fell $2.95, to $22.20. The mobile-phone maker said its half-year profit fell 24 percent.
Avon Products fell $2.21, to $24.86. The cosmetics company announced a restructuring plan that it expects to cost as much as $500 million.
HCA rose $1.40, to $50.90. The hospital operator said it will buy back about 28.8 million common shares for about $1.5 billion.
Amazon.com rose $1.92, to $44.45, after it was added to the S&P 500-stock index.
Finlay Enterprises rose $1.95, to $10.85. The jewelry retailer signed a new three-year lease with Federated Department Stores.
Bob Evans Farms rose $2.40, to $24.16. The restaurant operator said selling some of its underperforming locations helped profit to rise 25 percent in its second quarter.
New York Stock Exchange composite index fell 39.79, to 7509.38.
American Stock Exchange index fell 6.51, to 1693.22.
Russell 2000 index of smaller-company stocks fell 10.70, to 656.23.
NYSE: 2.35 billion shares, up from 1.93 billion on Monday. Decliners outnumbered advancers 2 to 1.
Nasdaq: 1.71 billion shares, up from 1.41 billion. Decliners outnumbered advancers 7 to 3.
Crude oil for December delivery: $56.98, down 71 cents.
Gold for current delivery: $468.10 a troy ounce, down from $468.20 on Monday.