New York (CNN) — Constellation Brands, the US owner of Modelo Especial and Corona, bet big on Latino customers for growth. But that strategy is unraveling under the Trump administration’s mass deportation push.

Many Latino consumers, both legal and undocumented, are fearful of venturing out in public to stores, restaurants and bars due to the immigration enforcement blitz , according to customer surveys, companies and market research. Big parties and celebrations where beer often flowed have been scaled back or canceled. Job cuts in industries with large immigrant workforces have squeezed finances, as has a broader cost-of-living crunch.

Constellation’s sales have plunged, Modelo lost its top-selling beer spot to Michelob Ultra, and its stock has dropped nearly 40% this year, makin

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