Broader market pressure and softening macroeconomic signals weighed on growth and consumer discretionary stocks during the session. Weaker consumer sentiment and softer retail spending data heightened investor concerns regarding household discretionary budgets, impacting consumer-facing digital media and streaming platforms. At the same time, elevated long-term Treasury yields created broader headwinds for higher-valuation growth equities, fueling intraday volatility and profit-taking across tech and communication services stocks.

On a company-specific level, market participants remain focused on Netflix’s moderating revenue trajectory as the business transitions from rapid user expansion toward deeper monetization. While the ongoing…