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Communications Stocks Fall as Investors Pull Back From Risk

Communications-services shares declined as traders retreated from risk, adding to losses in a sector facing doubts about growth tied to consumer spending. The SPDR Select Sector Communications Services ETF is now down almost 8% year to date.

Communications Stocks Fall as Investors Pull Back From Risk

The fund tracks the communications services industry group of the S&P 500. The downturn comes amid concerns about the outlook for sectors reliant on consumer spending.

Separately, investment firm GTCR asked a judge for permission to proceed with its acquisition of Cable One despite objections from lenders.

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