Retail stocks are getting pummeled as the coronavirus outbreak worsens and swaths of the country enter a lockdown.
The XRT retail ETF has fallen 33% in March, its worst month ever. Some of its components have performed even worse — Kohl’s, Macy’s, and Guess have all dropped by more than 60%.
Ari Wald, head of technical analysis at Oppenheimer, said this is an extension of broad underperformance stretching back years, and that it could get worse.. . . more