01:27 PM EDT, 10/02/2024 (MT Newswires) -- Consumer stocks were lower Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) both falling 1%.

In corporate news, Nike ( NKE ) shares tumbled past 6% as it withdrew its full-year guidance and postponed its investor day following the appointment of a new chief executive last month, while the company's fiscal Q1 results fell year over year.