U.S. manufacturers and industrial ETFs were retreating Wednesday as anxious investors worry over the fallout from the Trump administration’s imposed tariffs.
The Industrial Select Sector SPDR (NYSEArca: XLI), the largest exchange traded fund tracking industrial stocks, was 0.8% lower Wednesday. XLI is up 1.9% year-to-date, compared to the S&P 500’s 3.8% gain.
Meanwhile, the ProShares UltraShort Industrials (NYSEArca: SIJ), which tracks the inverse 2x or -200% daily performance of the Dow Jones U.S. Industrials Index, was 0.8% higher on the weakness in the industrials segment.
Boeing (NYSE: BA) was among the worst performers in the industrials sector, falling as much as 4% in early morning trading. BA is the single largest component in XLI at 7.8% of the ETF’s portfolio.