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On Wednesday afternoon, Utilities stocks fell 1.1%, making it the worst-performing sector. Notable laggards included Edison International (EIX) and AES Corp (AES), with losses of 13.3% and 5.8%, respectively. The Utilities Select Sector SPDR ETF (XLU) also decreased by 1.1% for the day and is down 0.62% year-to-date. Year-to-date, Edison International has declined by 14.94% and AES Corp by 5.17%, together comprising approximately 3.2% of XLU’s holdings.
The Technology & Communications sector followed closely, down 0.6%. ON Semiconductor Corp (ON) and Super Micro Computer Inc (SMCI) saw declines of 7.0% and 5.4%, respectively. The Technology Select Sector SPDR ETF (XLK) was down 0.2% midday but is up 0.40% year-to-date. ON is down 7.52% year-to-date, while SMCI is up 6.69%, making up about 0.5% of XLK’s holdings.
The overall market sentiment showed that one sector, Industrial, gained 0.2% while seven sectors including Technology & Communications and Utilities experienced losses, with detailed performance data provided in a sector comparison table.
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