The Dow Jones industrial average fell 33.48 to 6,988.96. However, advancing issues outnumbered decliners by 10-to-9 on the New York Stock Exchange.
NYSE volume totaled 480.14 million shares compared with 584.39 million yesterday.
Broad market indexes were also lower. The NYSE's composite index fell 0.94 to 423.48. The Standard & Poor's 500-stock index lost 3.37 to 808.45. The Nasdaq composite fell 3.62 to 1,367.19 while the American Stock Exchange composite index lost 1.25 to 594.15.
The Labor Department reported this morning that producer prices fell 0.3 percent in January, while market seers were expecting a 0.2 percent rise.
In addition, the Commerce Department said industrial production was unchanged in January. That was in line with analyst expectations. And the percentage of factories in operation fell a slight 0.2 percent to 83.3 percent, also in line with expectations. These numbers indicate that there's room for higher production without the shortages of goods and labor that can bring on inflation.
On most days, such reports would spark a rally, but the Dow's rise of more than 200 points in three days prompted some investors to take their money home.
"The best time to sell is in the face of extremely good news," said Richard Cripps, chief market strategist for Legg Mason in Baltimore. "The markets are very liquid and you can get a good price."
The Dow's move above 7,000 marked its fastest 1,000-point advance ever, as the same factors that have kept stocks rising for six years continued to spur buying.
Moderate economic growth, strong corporate profit gains, a lack of inflation and the steady growth of mutual funds show little signs of letting up.