Consumer Discretionary Stocks Lead Broad Market Selloff

Consumer discretionary stocks led a broad market decline on Friday and was the worst-performing sector on the S&P 500 in early trade. Ross Stores Inc. tumbled 7% after offering a weak outlook for the second half and predicting rivals will increase discounts. Wynn Resorts Ltd. shed 3.3%, Under Armour Inc. shares fell 2.6%, Walt Disney Co. lost 2.5% and Starbucks Corp. was down 2.6%. The Consumer Discretionary Select Sector SPDR Fund fell 1.6%.