01:37 PM EDT, 04/03/2025 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) rising 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 5.2%.

In sector news, President Donald Trump's auto tariffs will likely cost US car buyers about $30 billion in the first year, assuming carmakers will absorb some of the costs during the period, Anderson Economic Group said in a report.

In corporate news, Nike ( NKE ) shares fell past 12% after the Trump administration's late-Wednesday tariff announcement. Trump said he will impose tariffs of 46%, 49%, 37% and 32% on Vietnam, Cambodia, Bangladesh and Indonesia, respectively. He also said he would levy a 54% tariff on China. Nike ( NKE ) sources a large portion of its products from these countries.