Consumer staples ETF suffers longest-ever losing streak
The SPDR Consumer Staples Select Sector ETF slumped 0.8% Thursday, and while it was the third-best performing tracker of the 11 key S&P 500 sector, it suffered its longest losing streak since it began trading in December 1998. The ETF (XLP) has declined for nine-straight sessions, and has lost 5.7% during its streak. The previous record losing streak was the eight-session stretch ending Jan. 8, 2002. On Thursday, 30 of the XLP’s 35 components declined. Among the biggest losers, shares of Mondelez International Inc. lost 2.38%, Kraft Heinz Co. shed 2.36% and General Mills Inc. fell 2.33%. Among the most active components, Coca-Cola Co.’s stock declined 0.6% and Walmart Inc. shares gave up 1.2%. The best performer was Altria Group Inc.’s stock , which tacked on 0.7%. Separately, the SPDR Consumer Staples Select Sector ETF tumbled 2.1%, the seventh loss in nine sessions, and the S&P 500 dropped 2.5%, also suffering its seventh loss in nine sessions.
Source : MTV
