Consumer ETFs Retreat as Tesla Eyes Staff Cuts, Musk Warns of Outlook
June 03, 2022 at 16:37 PM EDT
Tesla Inc. (NasdaqGS: TSLA) plunged Friday, dragging down consumer discretionary sector-related exchange traded funds, after Elon Musk revealed plans to cut about 10% of salaried jobs. On Friday, the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) fell 2.9%, the Vanguard Consumer...