U.S. stocks slumped Friday as worries flared again on Wall Street about tariffs and inflation.

The S&P 500 fell 0.9% and erased what had been a modest gain for the week. It’s one of the worse drops for the index so far in the young year, but it remains near its record set two weeks ago.

The Dow Jones industrial average sank 444 points, or 1%, and a sharp fall for Amazon after its latest profit report dragged the Nasdaq composite to a market-leading loss of 1.4%.

Treasury yields also climbed in the bond market after a discouraging report on Friday morning suggested sentiment is unexpectedly souring among U.S. consumers.

The consumer-sentiment data followed a mixed update on the U.S. job market, which is often each month’s most anticipated economic report.

In the meantime, stocks of big U.S. companies continue to swing as they report how much profit they made during the last three months of 2024. Most are reporting better results than expected, which is typical, but that’s not always enough.

Amazon, one of Wall Street’s most influential companies, topped analysts’ expectations for earnings at the end of 2024, but its stock nevertheless fell 4.1%. Investors focused instead on its forecast for upcoming revenue, which fell short of analysts’ expectations.

Homebuilders also tumbled to sharp losses as fewer cuts to interest rates by the Fed could help keep mortgage rates high. D.R. Horton fell 5%, and Lennar sank 4.2%.

On the winning side of Wall Street was Expedia Group, which leaped 17.3% after reporting better profit for the last three months of 2024 than analysts had forecast.

All told, the S&P 500 fell 57.58 points to 6,025.99. The Dow dropped 444.23 to 44,303.40, and the Nasdaq composite sank 268.59 to 19,523.40.

In the bond market, the 10-year Treasury yield rose to 4.48% from 4.44% late Thursday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose more. It climbed to 4.28% from 4.22%.

— Associated Press