🔴 Materials ETF (XLB) is trading 3.2% down as broad-market losses pressure cyclical materials stocks

XLB is trading at $52.20 (-3.16%) as a broad-market selloff weighs on cyclical materials stocks.

• Jobless claims came in at 189,000, below the 197,000 estimate, adding concern that interest rates may stay higher.
• Election-related AI regulation concerns and technology weakness are adding to risk-off sentiment.
• Available evidence does not identify a materials-specific company catalyst.