The consumer staples sector, as measured by the XLP ETF, gained 1.32% in a broad market downturn. The main driver was a hotter-than-expected Consumer Price Index (CPI) report for September, which showed persistent inflation. This spurred concerns about further Federal Reserve interest rate hikes, leading to a sell-off in the broader market. Investors are rotating into defensive sectors like consumer staples, which are perceived as better able to weather an inflationary environment due to their pricing power and the non-discretionary nature of their products.