And then the pessimism set in. The Reuters/University of Michigan index of consumer sentiment, released today, shows that consumer sentiment decreased to 66, from 70.8 in June. This falls in-line with expectations, but still brings the incex to its lowest level since April. Consumer expectations were also down, at 63.2 from 69.2 in June. Mounting job losses and income fears are keeping shoppers on edge. While investors are hoping the back-to-school season will spur shopping, numbers like these cast doubt on that notion. Retail shares were mixed during afternoon trading, with the S&P Retail Index down 1% to 349.52. Online retailer Amazon.com ( AMZN) plunged more than 8% to $85.92 a day after it reported a 10% decline in second-quarter profit. Pacific Sunwear of California ( PSUN) continued to lose steam, falling 4% $2.92. On Thursday the skate and surf retailer said it expects a bigger-than-expected loss in its second quarter as sales remain weak. Netflix ( NFLX) tumbled 8% to $42.49 after it was downgraded by an analyst.