U.S. stock indexes are declining on Friday, impacted by discouraging inflation data and concerns over consumer spending. The S&P 500 fell by 0.5% in morning trading, potentially erasing weekly gains. The Dow Jones Industrial Average dropped 263 points (0.6%), and the Nasdaq composite decreased by 0.7%. (Source: AP, current date).
Lululemon Athletica's shares tumbled 13.3% after warning of slowing revenue growth due to consumer concerns about inflation. Oxford Industries also saw a stock decline of 3.3% despite strong results, citing deteriorating consumer sentiment.
Globally, markets are shaky as an April 2 deadline approaches for potential tariffs. In Asia, auto stocks plunged following President Trump's plan to impose 25% tariffs on auto imports. Hyundai Motor fell 2.6% in Seoul, while Honda and Toyota dropped 2.6% and 2.8% respectively in Tokyo. Thailand's SET index decreased by 1% after an earthquake in Myanmar.
The yield on the 10-year Treasury fell to 4.29%. Investors are closely watching inflation data and tariff developments for potential impacts on the global economy.