The New York Stock Exchange closed lower as investors grew more cautious about prospects for easing the crisis in the Middle East. Rising oil prices also deepened concerns about the path of inflation.

The Dow Jones Industrial Average fell 60.95 points, or 0.11%, to close at 53,975.98.

The Nasdaq, dominated by technology company stocks, dropped 85.25 points, or 0.32%, to 26,605.35.

The broader S&P 500, seen as a gauge of the overall market trend, slipped 4.53 points, or 0.06%, to 7,753.11.

