On March 12, 2025, consumer staples, represented by the XLP index, experienced a decline of over 2%, while technology stocks rose by 1%. Analysts noted that this downturn in consumer staples suggests investors are moving away from defensive stocks amid broader market conditions. The XLP index's poor performance comes as some market participants had begun to seek refuge in these defensive groups. Concerns were raised about the international exposure of consumer staples, with predictions that a potential global boycott of U.S. products could further impact the sector negatively.