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Consumer companies fell after a mixed round of earnings. Deckers Outdoors plunged after the maker of Hoka- and Ugg-branded shoes posted sales shy of some investors' expectations.

The S&P 500 declined by 0.5% on Friday, Jan. 31, as investors digested the White House’s proposed tariffs on Canada, China, and Mexico.

Shares of Deckers Outdoor were down nearly 20% Friday afternoon, one day after the footwear maker released its quarterly results.

Deckers Outdoor beats earnings expectations, but analysts have mixed views on future growth, with concerns over slowing HOKA sales and inventory issues.

The move comes as higher-priced Ugg gains strength, notching $2.2 billion in net sales in the last fiscal year and $1.2 ...