U.S. stocks fell more than 1 percent on Friday after a report showed consumer sentiment weakened, while Boeing Co
The Reuters/University of Michigan Surveys of Consumers' preliminary August consumer sentiment reading was significantly below the market forecast.
Today's numbers were sort of a confirmation of yesterday's weak numbers on retails, said Tim Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills in New York.
Nobody expects consumers to step up and lead us out of recession ... but deterioration (like today) really has an impact on the market.
The Dow Jones industrial average <.DJI> was down 136.87 points, or 1.46 percent, at 9,261.32. The Standard & Poor's 500 Index <.SPX> fell 15.43 points, or 1.52 percent, at 997.30. The Nasdaq Composite Index <.IXIC> dropped 33.24 points, or 1.65 percent, at 1,976.11.
Boeing dipped 4 percent to $44.73 after the company said an Italian supplier stopped production on two sections of its long-delayed 787 Dreamliner after structural flaws were found on fuselages.
Major retailer JC Penney Co Inc
Abercrombie & Fitch Co
The weak consumer sentiment report overshadowed other data that showed U.S. industrial production rose more than expected in July, beating the market forecast.
The S&P 500 is still up about 47.5 percent from its closing-low set on March 9.
(Additional reporting by Ryan Vlastelica; editing by Jeffrey Benkoe)