Stocks drops after beer brewer’s biggest earnings miss in four years and a lowered full-year outlook as consumer confidence falls as the economy slows.

Molson Coors’ first-quarter net income fell 42% and the beverage company slashed its sales and underlying earnings projections for the year, citing intensified competition in overseas markets and economic blues among consumers.

Molson Coors Beverage Co. lowered its full-year guidance as the challenging consumer environment in the US drives shoppers away from the company’s products.