BUZZ-US big banks slide amid selloff sparked by uncertainty over consumer spending

Shares of economy-sensitive large-cap U.S. banks fall in volatile afternoon trading

Citigroup C.N down 3.4%, JPMorgan Chase JPM.N falls 4.6%, Goldman Sachs GS.N slides 5.1% and Morgan Stanley MS.N drops 5.4%

Bank of America BAC.N and Wells Fargo WFC.N down between 1.3% and 2%

The S&P 500 Banks Index .SPXBK recorded its biggest single day fall since mid-December

A weaker-than-expected sales and profit forecast from Walmart WMT.N, the largest U.S. retailer, ignited worries about consumer spending

The company on Thursday said it was being cautious while navigating an uncertain geopolitical landscape

Uncertainty over the inflationary impact of President Trump's tariffs and immigration policies has rattled some investors

Brokerage Morgan Stanley said in a note that tighter immigration policies could keep the Federal Reserve in its currently restrictive stance for longer