There’s been little yuletide cheer for the retailers.
The XRT retail ETF is down 17 percent this month, tracking for its worst December since its inception in 2006.
One market watcher says indiscriminate selling may have unfairly taken retail down.
“This is really more about the overall decline,” Erin Gibbs, portfolio manager at S&P Global Market Intelligence, said on CNBC’s “Trading Nation ” on Friday. “We know that when markets are going down like this, correlations rise and everybody goes down. It doesn’t matter how good your fundamentals look.”
