Financial and energy are the next largest in the Dow, represented by the Financial Select Sector SPDR (XLF) and the Energy Select Sector SPDR (XLE).
XLF has taken a nosedive, indicating that investors are wary that the credit crunch is not behind us. It’s down 17.8% year-to-date. XLE has been saved by higher oil prices, up 9.8% year-to-date.
Overall, with the exception of financials and homebuilders, these sectors have yet to dip below the lows they saw in mid-March.
