With Consumer discretionary (XLY) down 1.5%, this looks like a sector-led move rather than a company-specific surprise.
The Consumer Discretionary sector (XLY) declined as investors nervously awaited the August jobs report. A stronger-than-expected labor market could pressure the Federal Reserve to maintain a hawkish stance and possibly raise interest rates to curb inflation. Higher rates typically dampen consumer spending, which would negatively impact the earnings of companies in the consumer discretionary sector. The market is pricing in the risk of a more restrictive monetary policy, leading to a broad-based sell-off in rate-sensitive stocks.