LLooking at the worst performing sectors at midday Wednesday, stocks of service companies underperformed other sectors, posting a loss of 5.9%. Within the sector, Target Corp (Ticker: TGT) and Dollar Tree Inc (Ticker: DLTR) are two of the day’s laggards, posting a loss of 27.5% and 16.6%, respectively. Among the largest ETFs, one ETF closely tracking services stocks is the iShares US Consumer Services ETF (Ticker: IYC), which is down 6.4% on the day and 29.63% since inception of the year. Target Corp, meanwhile, is down 31.76% year-to-date and Dollar Tree Inc, down 7.22% year-to-date. Together, TGT and DLTR represent approximately 2.5% of IYC’s underlying holdings.
The second worst performing sector is the consumer products sector, posting a loss of 5.5%. Among the major consumer products stocks, Newell Brands Inc (ticker: NWL) and JM Smucker Co. (ticker: SJM) are the most notable, posting a loss of 10.2% and 9.9%, respectively. One ETF closely tracking consumer products stocks is the iShares US Consumer Goods (IYK) ETF, which is down 5.0% as of midday and 0.81% year-to-date. Newell Brands Inc, meanwhile, is down 4.14% year-to-date, and JM Smucker Co., down 3.36% year-to-date. SJM represents approximately 0.7% of IYK’s underlying holdings.
Comparing these stocks and ETFs on a twelve-month basis, below is a graph of relative stock price performance, with each of the symbols displayed in a different color, as shown in the legend at the bottom:
Here’s a look at how the S&P 500 constituents moved across sectors in Wednesday afternoon trade. As you can see, none of the sectors are up that day, while nine sectors are down.
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