Consumer staples stocks drag S&P 500 as tariff, M&A jitters hit
Consumer staples were the worst S&P 500 performers on Monday, with XLP sinking 1.7%, its steepest drop in two months. Walmart, Costco, and P&G slipped, while Keurig Dr Pepper tumbled 11% after unveiling an $18.4 billion JDE Peet's deal. Rate cut hopes and tariff uncertainty weighed on sentiment, though recent strong retail earnings suggest US consumer demand remains steady.