Why did consumer discretionary stocks tank earlier this week along with the rest of the market?

I keep reading this narrative about the correction earlier this week that strong wage growth caused investors to revise their estimates about upcoming rate hikes, tanking stocks. If that’s the case though, then why did consumer discretionary stocks also fall in concert with the rest of the market? I would have thought that unexpectedly strong wage growth would buoy these stocks, even if central banks hike interest rates faster than expected. For reference, see the stock price of Vanguard’s Consumer Discretionary etf (VCR)

Submitted February 08, 2018 at 08:24AM by RosmarysBabyBjorn http://ift.tt/2nSCgQw