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Homebuilders slide before Fed's interest rate decision

Jun. 19, 2019 1:37 PM ETiShares U.S. Home Construction ETF (ITB)KBH, TOL, PHM, PKB, NVR, DHI, LEN, XHB, ITB, HOML, NAIL, HOMZBy: Liz Kiesche, SA News Editor
  • Ahead of the FOMC's decision on interest rates, homebuilders are among the biggest decliners.
  • iShares U.S. Home Construction ETF (NYSE:ITBfalls 2.1%, its biggest one-day percentage decline since April 25, less than a half hour before the Fed announcement.
  • The decline also comes a day after Raymond James cutLennar (LEN -1.9%) to market perform and KB Home Home (KBH -3.3%) to underperform.
  • D.R. Horton (DHI -3.4%), PulteGroup (PHM -3.5%), Toll Brothers (TOL -2.9%), and NVR (NVR -2.2%) all slide.
  • ETFs: XHB, ITB, PKB, NAIL, HOML, HOMZ

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