01:24 PM EDT, 04/12/2024 (MT Newswires) -- Consumer stocks were in the red Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.8%.

In corporate news, Johnson Controls ( JCI ) shares slumped 0.5% after it said Friday that its Tyco Fire Products unit has agreed to a $750 million settlement with a nationwide class of public water systems over alleged contamination from PFAS chemicals related to some products made by the company.