BBWI - Consumer stocks hit a wall of worry even as buy-the dip calls start to arrive

Consumer stocks are tumbling along with the rest of the market on broad concerns over what the China property market debacle signals for riskier assets and increased apprehension on the U.S. debt ceiling negotiations between in D.C. The topper could be the FOMC meeting in a few days during which a sharp focus will be on tapering wording. The biggest decliners in the consumer sector of the S&P 500 component stocks are Tapestry (TPR -6.2%), Ford (F -5.4%), Etsy (ETSY -4.5%), Tesla (TSLA -4.2%), PVH (PVH -3.8%), Newell Brands (NWL -3.5%), Bath & Bord Works (BBWI -3.4%). Of the Dow 30 components, it is a clean sweep of losses for Nike (NKE -1.9%), McDonald's (MCD -1.6%) and Home Depot (HD -1.6%). Analysts are pointing that the nervous trading has been building with the Dow down three straights weeks, which has not happened since September of 2020. Still, there are plenty of

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Consumer stocks hit a wall of worry even as buy-the dip calls start to arrive