01:16 PM EDT, 06/25/2025 (MT Newswires) -- Consumer stocks were lower Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 1.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.3%.

In corporate news, Tesla's (TSLA) new car sales in Europe dropped almost 28% in May from a year earlier, even as total battery electric vehicle sales in the region jumped more than 27%, the European Automobile Manufacturers Association reported. Tesla shares were falling 4%.