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The Utilities Select Sector SPDR ETF (NYSE: XLU) has seen a nearly 7% decline from its 52-week high since December, indicating a shift in capital flows away from the utilities sector.
December 16, 2024 | 2:15 pm
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The Utilities Select Sector SPDR ETF (XLU) has experienced a significant decline, dropping nearly 7% from its 52-week high since December, reflecting a shift in investor sentiment away from the utilities sector.
The XLU ETF's decline suggests a negative short-term outlook for the utilities sector, as investors are moving capital away from it. This could lead to further price decreases if the trend continues.
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IMPORTANCE 70
RELEVANCE 80