Why Nike, Chewy, and Etsy Were Plunging Today
Shares of consumer goods stocks Nike (NYSE: NKE), Etsy (NASDAQ: ETSY), and Chewy (NYSE: CHWY) were plunging today, falling 2.8%, 4.6%, and 6.2%, respectively, as of 11 a.m. ET.
It wasn't a good day for growth stocks or consumer stocks, as the Federal Reserve stuck to its hawkish tone yesterday, even as today's November retail sales numbers saw a large month-over-month decline.
Unfortunately, these three stocks are each a combination of growth-oriented consumer names, and were therefore feeling the heat on Thursday.
Source Fool.com
