Wayfair Execs WarnHome Goods Slowdown Mirrors 2008 GFC

Wayfair executives warn of a slowdown in the home goods industry, comparing it to the 2008 financial crisis. Concerns over the US economic slowdown and disappointing earnings reports from Amazon and Intel have triggered a global stock selloff. Wayfair's CFO states that declines in consumer spending on home goods are similar to those during the recession, despite the country not being in a GDP recession. Goldman Sachs also highlights the health of the consumer as a major concern.