Markets Drop on Worries of Slowing Consumer Spending
• Markets pulled back due to concerns over slowing consumer spending based on soft retail sales and comments from McDonald's.
• Major indices initially climbed after economic data releases but quickly turned negative.
• High prices appear to be reducing consumer appetite for retail goods.
• The pullback may just be a normal breather for the bull market rather than an inflection point.
• Adobe and Ulta Beauty shares fell despite beating earnings expectations, possibly due to investors taking profits.