Disappointing first-quarter profits from consumer-focused companies helped pull stocks lower Friday as investors, fearing a further economic slowdown, collected profits from the previous session’s rally.
Bad news from companies including Maytag Corp. and Costco Wholesale Corp. had investors wondering whether consumers were cutting back on spending.
In late-morning trading, the Dow Jones Industrial Average fell 26.09, or 0.3 percent, to 10,192.51. The Standard & Poor’s 500 Index was down 3.11, or 0.3 percent, at 1,156.84. The Nasdaq Composite Index dropped 12.98, or 0.7 percent, to 1,949.43.
