Industrial ETFs take it on the chin amid ratcheted-up trade tension
Exchange-traded funds with exposure to industrial company stocks slid on Friday after President Trump suggested he might cancel trade talks scheduled for September. The Vanguard Industrials ETF VIS, -1.39% was down 1.40% midday, while the SPDR S&P Aerospace and Defense fund XAR, -1.65% lost more than 1.7%.
Industrial stocks like Caterpillar CAT, -2.34% and Lockheed Martin Corporation LMT, -0.25% also lurched lower on Friday. Both funds are up handily so far this year, however: VIS has gained nearly 18%, and XAR is up 33%, beating the 12% gain on the Dow Jones Industrial Average DJIA, -0.74% and the 16% rise in the S&P 500 SPX, -1.03%.
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