Rising rate fears have resulted in break-even trade among AT&T (NYSE: T) and Verizon (NYSE: VZ) in the past month. The former is down just over 1% while the latter is higher by the same amount. Those stocks combine for 11.3% of XLK’s weight, but the worst offender among XLK’s top-10 holdings has been Intel (NasdaqGS: INTC). Shares of the world’s largest semiconductor maker have slipped 7.3% in the past month, a decline hastened more by analyst downgrades seen on Monday than the strong dollar.
Technology Select Sector SPDR
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Procter & Gamble and QQQ.