Utilities ETFs outperform amidst market tumble

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Utility-sector exchange-traded funds were nearly unchanged Monday afternoon even as most sectors of the market sold off heavily. The Utilities Select Sector SPDR Fund and the iShares U.S. Utilities ETF were both down 0.1%, while the Fidelity MSCI Utilities Index ETF [S: FUTY] and Vanguard Utilities ETF lost 0.2%. The broad stock market, as measured by the S&P 500 lost 2.1%, as investors fretted about the economic impact of rising coronavirus cases. It was the worst day for the Dow Jones Industrial Average since September 3, according to Dow Jones Market Data. More economically-sensitive sectors suffered the most: energy was down more than 4%, while materials lost 3%.
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