Markets have been wavering lately as participants are holding their breath to study every bit of the Fed-related news. The broader tech sector has slumped even steeper than the S&P 500 (down 0.5%) over the past five days, with State Street Technology Select Sector SPDR ETF XLK shedding about 0.7%, as the sector is rate-sensitive in nature and underperforms in a high-rate environment. However, Telecom Services ETF Vanguard VOX (up 2.64%), Fidelity Telecommunication MSCI ETF FCOM (up 2.64%) and S&P 500 Communication Sector SPDR XLC (up 1.9%) rose during that period.
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