NEW YORK (
) -- Weak manufacturing data sent shares of conglomerates such as
lower on Thursday, dragging industrial and materials ETFs down along with them.
Industrial Select Sector SPDR
lost a little more than 1% in Thursday morning trading.
, its top holding, declined 1% to $15.04 while
and Honeywell also weighed on performance. The
Vanguard Industrials ETF
was also down 1.4%.
SPDR Metals & Mining ETF
sank 2%, led by steep declines in
. Steel stocks have been declining on price weakness.
iShares Dow Jones Basic Materials Index
was also down, with its top holdings including
Freeport-McMoRan Copper & Gold
also sliding sharply.
strong performance failed to trigger a rally in banking stocks. Financial ETFs were all trading in negative territory on Thursday morning.
-- Reported by Shanthi Venkataraman in New York.
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