Stocks extended losses on Friday as a report showed a rise in inflation expectations and continuing job uncertainty even as the consumer mood improved in June.

The Dow Jones industrial average <.DJI> dropped 48.22 points, or 0.55 percent, to 8,722.70. The Standard & Poor's 500 Index <.SPX> fell 8.65 points, or 0.92 percent, to 936.24. The Nasdaq Composite Index <.IXIC> slipped 28.45 points, or 1.53 percent, to 1,833.92.