Technology sector ETF net outflow of $8.7 billion, XLK performs worst in the industry

According to The Kobeissi Letter, the technology sector ETF XLK had a net outflow of $8.7 billion in the past month, making it the largest industry ETF in the S&P 500. XLK also fell 5.4% during the same period, making it the worst performing industry ETF. The energy sector ETF XLE and communication services sector ETF XLC had net outflows of $1 billion and $500 million, respectively, while the financial sector ETF XLF had a net inflow of $2.1 billion.