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Whirlpool
shares tumbled Thursday after the iconic appliance maker warned that the war in Iran triggered a severe downturn, underscoring how sharply higher fuel prices and collapsing consumer confidence are beginning to weigh on big-ticket purchases.
“War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March,” the company said in its earnings filing.
The comments marked one of the starkest corporate warnings yet about the economic fallout from the conflict and contrasted with more resilient spending trends recently highlighted by companies tied to travel and services.
