The 30-stock index tumbled 215.38 points to pause for lunch Friday at 33,814.37.
The S&P 500 dipped 20.82 points to 4,125.40.
The NASDAQ fell 94.01 points to 12,072.27.
The disappointing retail sales data offset excitement around strong corporate earnings. JPMorgan Chase reported record revenue that beat analyst expectations, with the stock rising more than 7%. Wells Fargo shares were flat after reporting growing profits. These were the first bank earnings since the collapse of Silicon Valley Bank and Signature Bank last month.
UnitedHealth, which has the biggest weighting in the Dow, fell 2% even after the firm posted better-than-expected results.
Elsewhere, Boeing fell 6% after the aircraft maker warned of delivery delays for some of its 737 Max planes.
Expectations for this earnings season are downbeat. Analysts polled by Refinitiv expect S&P 500 earnings fell more than 5% in the first quarter. That forecast comes as companies deal with persistent inflation and higher rates.
Advanced retail sales data showed consumer spending fell twice as much as expected in March. Retail sales declined by 1% last month as consumers dealt with growing recession fears, more than the 0.5% fall expected by economists polled by Dow Jones.
Prices for the 10-year Treasury stepped back, raising yields to 3.53% from Thursday’s 3.45%. Treasury prices and yields move in opposite directions.
Oil prices advanced 56 cents to $82.72 U.S. a barrel.
Gold prices stumbled $44.40 to $2,010.90 U.S. an ounce.