US stock markets fell sharply Friday after an economic report showed American consumers are growing increasingly fearful of price increases and how President Donald Trump’s tariffs could reignite the inflation crisis.

U.S. stocks fell sharply after reports showed that worries among consumers and businesses about President Trump’s policies may be hitting the economy

NEW YORK — A sharp slide for Walmart on Thursday helped pull Wall Street off of its record. The Standard & Poor’s 500 slipped 0.4% for its first drop after setting all-time highs in each of the last two days. The Dow Jones industrial average lost 1%, and the Nasdaq composite sank 0.5%.

Wall Street is hanging near its record after companies turned in a mixed set of profit results. The S&P 500 slipped 0.1% in early Friday trading, a day after pulling away from its all-time high. The Dow Jones Industrial Average fell 0.