Whirlpool Crashes After Iran Shock Sparks "Recession-Level" Appliance Slump
Whirlpool Crashes After Iran Shock Sparks "Recession-Level" Appliance Slump Whirlpool shares crashed as much as 20% in premarket trading after the appliance maker slashed its full-year outlook and posted weaker-than-expected first-quarter results. Management directly blamed the three-month war in the Middle East for triggering a collapse in U.S. appliance demand. Whirlpool began the earnings release with this statement: "War in Iran resulted in a recession-level industry decline in...
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