War in Iran triggers recession-level drop in US appliance sales, Whirlpool cuts earnings forecast sharply

Whirlpool reported that the war in Iran caused a recession-level decline in the US appliance industry as consumer confidence collapsed in late February and March, driven by sharply higher fuel prices. The company cut its full-year earnings forecast by about half and suspended its dividend to focus on debt reduction. This signals growing economic strain on big-ticket purchases like washers and dryers, contrasting with more resilient spending in travel and entertainment sectors. Whirlpool's CEO emphasized cost-cutting and pricing adjustments amid worsening macroeconomic conditions, while oil prices remain elevated above $90 a barrel amid ongoing conflict uncertainty.