WMG - Communications stocks spend another week in the red falling 5%

Another week of a drubbing in the market left very few gainers and lots of losers in Communications stocks, which as a group performed even worse than the prior week's poor showing - but par for the course in a week where stocks took a licking, driven by news around the Federal Reserve's three-quarter-point interest rate hike. The Communication Services Select Sector SPDR Fund (XLC) slid 5.1% over the past five sessions - worse than last week's 4.9% drop, but again tracking largely with the broader sell-off, as S&P 500 stocks tumbled 6.1% as a group. And once again, only a few large-cap issues in the sector even managed to eke out a gain for the week - and two of them were tied to Liberty Media's Formula One Group, which dodged the fate of other big Communications stocks thanks to a midweek upgrade at Morgan Stanley to Overweight. The

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Communications stocks spend another week in the red, falling 5%