New York (CNN) — Stocks were lower on Friday as investors digested inflation data that matched expectations and looked ahead to the Labor Day weekend.

The Dow fell 187 points, or 0.41%. The broader S&P 500 fell 0.73% and the tech-heavy Nasdaq Composite slid 1.17%.

The major indexes pulled back slightly after notching three consecutive days of gains. The Dow and S&P 500 on Thursday hit record highs.

Stock were lower Friday morning as data showed the Personal Consumption Expenditures index rose 2.6% year-over-year in July, in line with expectations.

The Federal Reserve’s preferred inflation gauge — a core measure of PCE that strips out volatile food and energy prices — rose 2.9% year-over-year in July. It’s the hottest annual pace since February but was also in line with expectations.

See Full Page