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REDDIT
Why did defensive sectors like utilities and staples sell off on Friday?
Anybody any idea why defensive sectors like utilities and staples sold off on Friday? On Thursday with the first day of sell-off those were the only 2 sectors that stayed in the green, which is logic as they are considered to be the safest and best performing during a recession, however on Friday especially the utilities sector went deep in the red. What's the reason for this?