NEW YORK (AP) — Another wipeout slammed Wall Street as worries built about a potentially toxic mix of worsening inflation and a U.S. economy slowing because of households afraid to spend due to the global trade war. The S&P 500 dropped 2% Friday for one of its worst days of the last two years. The Dow Jones Industrial Average lost 715 points, and the Nasdaq composite tumbled 2.7%. Lululemon Athletica led the market lower after warning that its revenue growth may slow, in part because shoppers are spending less due to concerns about inflation and the economy. Treasury yields fell, even after a worse-than-expected inflation report.
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