01:41 PM EDT, 04/07/2025 (MT Newswires) -- Consumer stocks were lower Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 1.2%.

In corporate news, Tesla's (TSLA) troubles have intensified with the imposition of new tariffs by the Trump Administration, further adding to softer Q1 delivery expectations driven by brand damage from its political associations, Wedbush said in a note Sunday, as it lowered its price target for Tesla to $315 from $550 while maintaining its outperform rating. Tesla shares fell 2.7% in recent trading.