U.S. stocks fall amid flagging consumer sentiment

U.S. stocks fell on Friday as inflation fears overshadowed strong retail sales numbers and better-than-expected earnings reports.

The Dow Jones Industrials Average lost 299.17 points, or 0.86%, to close at 34,687.85. The S&P 500 dipped 0.75% to 4,327.16 and the Nasdaq Composite shed 0.8% to 14,427.24.

A preliminary reading of the University of Michigan's index of consumer sentiment fell to 80.8 in July from a final reading of 85.5 in June, notching the measure's lowest level since February.

Separately, the Commerce Department released a report showing retail sales climbed by 0.6% in June after plunging by a revised 1.7% in May. Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales jumped by an even stronger 1.3% in June following a revised 0.9% decrease in May.

 

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