Consumer discretionary stocks and sector related exchange traded funds were the worst hit area of the markets on Tuesday.
It follows after some consumer names revealed poor quarterly earnings and a monthly survey revealed lower consumer confidence in October.
On Tuesday, the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY), Vanguard Consumer Discretionary (NYSEArca: VCR) and Fidelity MSCI Consumer Discretionary Index (NYSEArca: FDIS) declined 0.9%.
Disappointing corporate results dragged on the sector. Athletic apparel maker Under Armour (NYSE: UA) shares plunged 13.0% after revealing its slowest quarterly sales growth in six years, Reuters reports.
Home appliance maker Whirlpool (NYSE: WHR) shares decreased 12.5% showed revenue declined on a strong dollar.
The weakness in Whirlpool has been particularly hard on homebuilder-related ETFs, which include home furnishing exposure, as the appliance maker is one of the largest components in these funds. The SPDR S&P Homebuilders ETF (NYSEArca: XHB) retreated 3.1% and the iShares U.S. Home Construction ETF (NYSEArca: ITB) fell 2.5% on Tuesday.
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