Caicedo stars as Real Madrid defeats Arsenal 2-0 in women's Champions League, Lyon beats Bayern

Linda Caicedo shined on a rainy evening in the Spanish capital as Real Madrid beat Arsenal 2-0 in the first leg of the women’s Champions League quarterfinals on Tuesday.

Eight-time champion Lyon is eying the semifinals after a 2-0 win at Bayern Munich in their first-leg quarterfinal thanks to goals from Tabitha Chawinga and Melchie Dumornay.

Bayern goalkeeper Maria-Luisa Grohs saved Lindsey Heaps’ penalty before the break and made a host of other saves, too.

Caicedo, the 20-year-old Colombia star, opened the scoring in Madrid's Alfredo di Stéfano Stadium and proved a constant source of torment for the Arsenal defenders. Substitute Athenea grabbed the second goal late to put the Spanish side in a promising position to reach the semifinals.

Caicedo capitalized on Arsenal defender Leah Williamson’s botched effort to cut out Signe Bruun’s pass when she took a couple of strides forward to hold off Arsenal’s Emily Fox and fired the ball inside the left post in the 22nd minute.

Beth Mead went closest for Arsenal before the break.

Madrid suffered a blow in the 63rd when Melanie Leupolz went off with an apparent right knee injury after kicking the ball. The 16-year-old Irune Dorado went on in the German midfielder’s place.

Arsenal responded with a period of sustained pressure, albeit without reward, and Athenea scored on a counterattack in the 82nd. Arsenal goalkeeper Manuela Zinsberger got her hand to the ball but couldn’t keep Athenea's powerful shot out.

“We knew how to endure,” Madrid coach Alberto Toril said. “In the Champions League there are important matches that you need to know how to play and that have many mini-matches within the games, and I think we did very well.”

Lyon and Arsenal will host their respective second-leg quarterfinal matches next Wednesday.

Madrid, a powerhouse in men’s soccer with a record 15 European titles, is bidding to reach the semifinals for the first time. The Spanish club was late to women’s soccer in comparison to rivals, only forming its women’s team after completing a merger and acquisition of another women’s soccer club in 2020.

The big clubs' belated investments in women's soccer have had an adverse effect on clubs like Sweden's Umeå IK and Germany's Turbine Potsdam.

The other quarterfinal matches are on Wednesday, when Wolfsburg faces defending champion Barcelona at home, before Manchester City hosts English rival Chelsea.

AP soccer: https://apnews.com/hub/soccer

Bayern's Sarah Zadrazil, center, stands with her teammates during a break in the Women's Champions League quarterfinal first leg soccer match between FC Bayern Munich and Olympique Lyonnais at the FC Bayern Campus in Munich, Germany, Tuesday, March 18, 2025. (AP Photo/Matthias Schrader)

Lyon's Melchie Dumornay celebrates with teammate Lindsey Heaps, right, after scoring her side's second goal during the Women's Champions League quarterfinal first leg soccer match between FC Bayern Munich and Olympique Lyonnais at the FC Bayern Campus in Munich, Germany, Tuesday, March 18, 2025. (AP Photo/Matthias Schrader)

Lyon's Wendie Renard, Selma Bacha and goalkeeper Christiane Endler, from left, celebrate at the end of the Women's Champions League quarterfinal first leg soccer match between FC Bayern Munich and Olympique Lyonnais at the FC Bayern Campus in Munich, Germany, Tuesday, March 18, 2025. (AP Photo/Matthias Schrader)

Lyon's Wendie Renard, Selma Bacha and goalkeeper Christiane Endler, from left, celebrate at the end of the Women's Champions League quarterfinal first leg soccer match between FC Bayern Munich and Olympique Lyonnais at the FC Bayern Campus in Munich, Germany, Tuesday, March 18, 2025. (AP Photo/Matthias Schrader)

Real Madrid's Signe Bruun, centre, runs towards her team mate Caicedo who scored the opening goal during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Melanie Leupolz, left, is helped off the pitch after getting hurt during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Athenea del Castillo , centre, celebrates with Real Madrid's captain Olga Carmona, right, after scoring his side's second goal during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Athenea del Castillo , right, celebrates after scoring her side's second goal during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Athenea del Castillo shoots to score her side's second goal during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid players celebrate at the end of the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Arsenal's goalkeeper Manuela Zinsberger reacts at the end of the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Arsenal's Chloe Kelly, left is chased by Real Madrid's Olga Carmona during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Arsenal's Emily Fox, centre, and Real Madrid's Linda Caicedo, right, challenge for the ball during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Linda Caicedo runs with the ball during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

Real Madrid's Athenea del Castillo , centre, celebrates with Real Madrid's captain Olga Carmona, right, after scoring her side's second goal during the Women's Champions League quarterfinal first leg soccer match between Real Madrid and Arsenal at the Alfredo di Stefano stadium in Madrid, Spain, Tuesday March 18, 2025. (AP Photo/Fran Berg)

NEW YORK (AP) — U.S. stocks are drifting lower Thursday and giving back some of their gains from the day before.

The S&P 500 was down 0.4% in early trading. The Dow Jones Industrial Average was down 212 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% lower.

It's the latest swing in a weekslong roller-coaster ride for Wall Street, as stock prices veer on uncertainty about what President Donald Trump’s trade war will do to the economy. Stocks got a boost Wednesday after the head of the Federal Reserve said the economy remains solid enough to leave interest rates where they are. But Jerome Powell also stressed that extremely high uncertainty is making it difficult to forecast what will happen next.

It's not just the trade war affecting Wall Street. Accenture helped lead the market lower Thursday even though the consulting and professional services company reported slightly better profit and revenue for the latest quarter than analysts expected.

Worries are rising about the hit Accenture may take to its revenue from the U.S. government as Elon Musk leads efforts to cut spending. The federal government accounted for 17% of its North American revenue last fiscal year, and Accenture's stock dropped 9.3%.

The broad U.S. stock market was likely due for its drop, which took it more than 10% below its all-time high in just a few weeks, after prices climbed so much faster than corporate profits to make it look too expensive, said Barry Bannister, chief equity strategist at Stifel.

He said the S&P 500 could bounce higher in the near term, particularly after Fed officials indicated they still see room to cut interest rates twice this year. Lower interest rates would give a boost to the economy, as well as prices for investments. The market has also traditionally had “relief rallies” after major, long-term upward runs for stocks cracked.

But Bannister expects stock prices to remain under pressure as the economy’s growth slows more sharply in the second half of the year and as inflation remains stubbornly high. That would create a mild form of “stagflation,” which is something the Fed doesn’t have good tools to fix. The Fed could lower interest rates further to help the economy, but that would also push upward on inflation.

In the meantime, some more signals arrived Wednesday to indicate the economy remains relatively solid at the moment, at least.

One report said slightly fewer U.S. workers filed for unemployment benefits last week than economists expected. It’s the latest sign of a potentially “low fire, low hire” job market.

A separate report said manufacturing growth in the mid-Atlantic region appears stronger than economists expected.

On Wall Street, Commercial Metals fell 0.9% after reporting weaker profit for the latest quarter than analysts expected amid what the steel company described as “a period of continued economic uncertainty.”

On the winning side of Wall Street was the company behind Olive Garden, Ruth’s Chris Steak House and other restaurant chains. Darden Restaurants climbed 6% after reporting profit for the latest quarter that matched analysts’ expectations through what it called “a challenging environment.”

Discount retailer Five Below rose 5.5% after reporting fourth-quarter sales and profit that beat analyst expectations. The Philadelphia company also issued strong sales guidance and said it expects to open 150 stores this year.

In stock markets abroad, London’s FTSE 100 slipped 0.2% after the Bank of England held its main interest rate steady.

Indexes fell more sharply across much of the rest of Europe, and German stocks in the DAX lost 1.7%. The loss was even worse in Hong Kong, where the Hang Seng index fell 2.2% following heavy pressure on tech-related stocks.

In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.25% late Wednesday.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

People work on the floor at the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)

A general view of the skyline of commercial buildings, in London, Wednesday, March 19, 2025. (AP Photo/Kin Cheung)

People work on the options floor at the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)

People work on the options floor at the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)

People work on the floor at the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)

Federal Reserve Chair Jerome Powell speaks during a news conference after the Federal Open Market Committee meeting, Wednesday, March 19, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)

A news conference by Federal Reserve Chair Jerome Powell is displayed on the floor of the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)