01:53 PM EDT, 04/10/2025 (MT Newswires) -- Consumer stocks were lower Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 4.4%.

In corporate news, CarMax ( KMX ) shares tumbled 16%. The company's fiscal Q4 earnings rose sharply year over year but missed market expectations, while it suspended the timeframes related to its long-term objectives due to macro uncertainties.

Warner Bros Discovery ( WBD ) shares dropped 13% after China's National Film Administration said the country will lower the number of US films allowed to enter its market in response to the escalated tariffs imposed on Beijing by the Trump administration.

General Motors ( GM ) is temporarily laying off about 200 employees at its Factory Zero plant in Detroit, Reuters reported, citing a company statement. GM shares fell 3.6%.