US STOCKS-Market slips on weak consumer confidence

(Updates to show reaction to consumer sentiment data)

NEW YORK, May 16 (Reuters) - U.S. stocks fell on Friday, after a survey showed consumer confidence tumbled to its lowest in 28 years this month as short-term inflation expectations hit their highest since the stagflationary early 1980s.

The Dow Jones industrial average .DJI was down 17.42 points, or 0.13 percent, at 12,975.24. The Standard & Poor's 500 Index .SPX was down 1.33 points, or 0.09 percent, at 1,422.24. The Nasdaq Composite Index .IXIC was down 9.65 points, or 0.38 percent, at 2,524.08. (Reporting by Kristina Cooke; Editing by James Dalgleish)