Consumer stocks were lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.4%.

In corporate news, Amazon.com (AMZN) said Wednesday it intends to eliminate about 16,000 corporate jobs as part of ongoing organizational changes. Amazon shares were down 0.7%.