Consumer Portfolio Services, Inc. shares fall 2.71% intraday amid mixed consumer earnings and negative sentiment.

Consumer Portfolio Services, Inc. dropped 2.71% in intraday trading. The decline in stock price may be attributed to the overall negative sentiment in the consumer sector, as indicated by the University of Michigan Surveys of Consumers director, Joanne Hsu, who noted that consumers do not see a bright future ahead due to worries about inflation and unemployment. Consumer sentiment in August fell to 58.6 from 61.7 a month earlier, according to the latest survey. Additionally, mixed earnings reports from consumer companies and challenges faced by specific brands within the sector may have contributed to the bearish sentiment.