All three major U.S. equity averages ended negative last week amid investor concerns over signs of slowing in consumer spending stirred in part by jitters over President Trump’s tariff plans. The pullback began early in the week upon an adverse first quarter revenue forecast from the world’s largest retailer, Walmart. This was followed by economic data showing January existing home sales fell 4.9% after having already fallen to the lowest level since 1995 the month prior. Moreover, the University of Michigan’s consumer sentiment retreated nearly 10% to 64.7 in February as consumers expressed concerns about inflation ahead of possible new trade tariffs.