Delta Air Lines (DAL) cut its outlook for the current quarter on Monday, citing a dip in consumer and corporate confidence as well as softening domestic demand amid "macro uncertainty."

The company's warnings serve as one of the earliest reads on how recent volatility in markets and worries over the economic outlook are weighing on corporate performance in the first quarter of the year.

In a release ahead of an investor presentation set for Tuesday, the company said revenue growth is now expected to come in at 3%-4% for the first quarter, down from a range of 7%-9% Delta previously forecasted.

Profits are also expected to take a hit, with earnings per share expected to be in a range of $0.30-$0.50 in the first quarter, down from $0.70-$1.00 previously.

Delta stock fell as much as 13% in extended trading on Monday following the news.

Shares of Delta were down more than 16% before Monday's news amid a difficult year for the industry. The deadliest crash in the US in 16 years took place in January and then another crash in Toronto in February saw 21 passengers injured but no fatalities.

The company's comments about deteriorating sentiment among American consumers also come after stocks plunged on Monday due in part to increasingly cautious views about the US economy.

Notably, Delta highlighted that softness in domestic demand led to the lower guidance, while "premium, international and loyalty revenue growth trends are consistent with expectations."

This update also fits another key market narrative, where US growth forecasts have been sliding while similar outlooks in Europe have been rising.

In recent months, consumer sentiment data has tumbled and spending data has also begun to track lower. In January, consumer spending fell for the first time in nearly two years, and separate data showed retail sales saw the largest monthly decline in a year.

Meanwhile, consumer confidence saw its largest monthly decline in nearly four years during the month of February. Uncertainty about the impact of President Trump's policies has been key in driving the weakening consumer mood.

Given the market's recent drawdown amid weakening confidence from the consumer, investors have been closely watching for connections between a souring consumer and the outlook for American corporates.

"Weak confidence coincided with outflows in passive US equity funds in early February to begin the risk-off period," Citi head of US equity trading strategy Stuart Kaiser wrote in a note to clients on Monday. "The clear link between policy uncertainty and retail/consumer confidence remains [an] area of concern for us with no clear source of data relief."