The iShares Dow Jones U.S. Basic Materials Sector Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the basic materials economic sector of the U.S. equity market, as represented by the Dow Jones U.S. Basic Materials Index.
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The selloff accelerates, with the Nasdaq 100 (QQQ) and Russell 2000 (IWM) each now lower by 2.3%. Little-changed earlier, selling comes to the S&P 500 (SPY -0.7%) and DJIA (DIA -0.4%).
What's working? Emerging markets for one. Another area of green is the utility sector (XLU +0.9%). Healthcare (XLV -0.8%) would usually get a bid on these days, but it's being dragged down by the continuing liquidation of the biotechs. There are also some pockets of green in basic materials (XLB -0.7%).