Whirlpool says Iran war causing 'recession-level industry decline.' The shares are down 20%

Whirlpool shares tumbled Thursday after the iconic appliance maker warned that the war in Iran triggered a severe downturn, underscoring how sharply higher fuel prices and collapsing consumer confidence are beginning to weigh on big-ticket purchases. "War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March," the company said in its earnings filing. …