Sector allocations may be in for an overhaul with energy and materials ETFs taking a big hit, Index Universe reports. The broad-based Energy Select Sector SPDR Fund fell 6.2% following the nearly $5 sell-off in WTI crude oil. Utilities and telecom acted defensive in a market that fell 5% overall on August 18. The SPDR S&P Oil & Gas Exploration & Production fund was down 7.77% and the SPDR S&P Oil & Gas Equipment and Services dropped 7.59%. The industrials sector declined by 6.31% and basic materials dropped 6.23%, whereas the Utilities Select Sector SPDR Fund was off 1.64%.

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