03:15 PM EST, 12/18/2024 (MT Newswires) -- Consumer stocks fell late Wednesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 2.9%.

In corporate news, Ford Motor ( F ) is set to appoint a new head of quality to reduce recalls and cut warranty costs, Reuters reported. Control of the quality team will be transferred from Jim Baumbick to a new, yet-to-be-named leader, while Baumbick will focus on overseeing electric vehicle programs, the report said. Ford shares declined 1.8%.