The SPDR S&P Retail ETF (XRTn) fell by 4.75% yesterday, ending the month down by 5.89%. It’s XRTn’s second largest monthly loss after its 9.94% dip in February. The fund is the largest pure-play U.S retail ETF in the market with over $1.15 billion in assets under management.

XRT largest holdings (on September 29) – Group 1 Automotive Inc (GPI), Party City Holdco Inc (PRTY) and AutoNation Inc (AN) – fell by 8.24%, 14.15% and 5.62% respectively. The used vehicle retailer CarMax (KMX) dropped nearly 13%, while Gap (GPS) closed 8% lower.

Consumer confidence is at its lowest level in seven months, the Conference Board reported on Tuesday. Concerns about COVID-19 variants and the state of the economy, inflation and short-term growth prospects deepened, lowering the spending intentions for homes, autos, and major appliances.

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