Materials Sector Punished (MXI)
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Material sector stocks, as measured by iShares S&P Global Materials ETF (NYSE: MXI), took more than their fair share of punishment as global equity markets slide on Monday. The ETF was down over 2 percent today and is down 4.4 percent in the past 5 days.
Data out of China last week showed the slowdown in Asia has yet to reach a bottom, and this could be part of the reason why stocks in this sector are unattractive. Headlines out of Europe helped spook investors, and analysts and traders are taking a serious look at how global growth might be affected.
Data affecting material stocks is expected to be light this week, so movements in the sector will likely be driven by headlines.
The top holdings in MXI are BHP Billiton LTD (NYSE: BHP), BASF SE (Xtera: Base.DE) , Rio Tinto PLC (NYSE: RIO), and BHP Billiton Plc (NYSE: BBL).
Data out of China last week showed the slowdown in Asia has yet to reach a bottom, and this could be part of the reason why stocks in this sector are unattractive. Headlines out of Europe helped spook investors, and analysts and traders are taking a serious look at how global growth might be affected.
Data affecting material stocks is expected to be light this week, so movements in the sector will likely be driven by headlines.
The top holdings in MXI are BHP Billiton LTD (NYSE: BHP), BASF SE (Xtera: Base.DE) , Rio Tinto PLC (NYSE: RIO), and BHP Billiton Plc (NYSE: BBL).
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