03:23 PM EDT, 04/03/2024 (MT Newswires) -- Consumer stocks were retreating late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 1.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.1%.

In corporate news, Walt Disney ( DIS ) shares fell 3.2% after it said Wednesday its shareholders elected the full slate of directors recommended by the board over Blackwells Capital and Trian Fund Management's nominees by a "substantial margin," based on preliminary results.