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As of midday Thursday, the Healthcare sector is the worst performing, down 2.6%. Align Technology Inc (ALGN) is down 36.5%, while Baxter International Inc (BAX) has lost 20.1%. The Health Care Select Sector SPDR ETF (XLV) has decreased by 1.9% for the day and 3.4% year-to-date. Year-to-date, Align is down 37.98% and Baxter 22.02%, with both stocks comprising approximately 0.4% of XLV’s holdings.
The Materials sector follows with a 1.1% loss. Notable declines include International Paper Co (IP), down 11.2%, and Howmet Aerospace Inc (HWM), down 8.4%. The Materials Select Sector SPDR ETF (XLB) is down 1.1% for the day, but up 5.43% year-to-date. Year-to-date, IP is down 9.74%, while HWM is up 61.07%, with IP making up about 3.9% of XLB’s holdings.
Overall, two sectors are gaining while seven are trending downward. This ongoing performance trend offers insights into the market’s volatility.
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