Sector Glance: Consumer discretionary stocks fall

Overall, the S&P 500 fell about 3 percent quarter-to-date.

Some retailers were given a boost during the quarter as consumers spent their tax rebate checks.

However, many stocks were hit as consumers cut back on discretionary spending amid high food and gas prices, declining home values and a weak credit market.

Companies related to the troubled housing market and automakers were among the weakest performers, while discounters performed better as consumers hunted for bargains.

For example, shares of homebuilder Centex Corp. fell 42 percent, while automaker General Motors shares fell 39 percent.

Shares of closeout retailer Big Lots Inc., on the other hand, rose 44 percent.

The S&P 500 index includes 84 consumer discretionary companies. The index itself is made up of 500 stocks that are considered to be widely held. They are chosen for market size, liquidity and industry grouping, among other factors.

Year-to-date, consumer discretionary shares are down 13.1 percent.