On Friday, the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) fell 3.6%, the Vanguard Consumer Discretionary (NYSEArca: VCR) dropped 3.3%, and the Fidelity MSCI Consumer Discretionary Index (NYSEArca: FDIS) was down 3.5%. TSLA makes up 20.7% of XLY's underlying portfolio, 16.7% of VCR, and 15.6% of FDIS. “Tesla is mainly down on two things -- macroeconomic concerns as people are worried about inflation and recession, and China,” Gary Black, founder, and managing partner at the actively-managed ETF Future Fund LLC, told Bloomberg.