Retail fail: The market’s consumer worries are coming to a head

The Federal Reserve has raised interest rates for the first time in three years, aiming to slow inflation. Consumer discretionary stocks have already been underperforming, with the sector down 5% year to date before the Fed decision and falling further afterward. Companies like Lowe's and Nike are showing signs of pressure. Historical research from Goldman Sachs suggests the sector may face additional pain based on past reactions to higher rates.

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