Alphabet and Tesla Are Tanking These Sectors

Consumer discretionary and communication services indexes are having their worst day since April 2025. The S&P 500’s consumer discretionary sector was down 4.8% in recent trading, which put the sector on track for its biggest daily drop since it fell 6.5% on April 3, 2025. Tesla, with a market cap of $1 trillion, was the biggest drag with a 14% drop.