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Sugar ETN plummets 9% on record volume (SGG) *PIC*

Sugar ETN plummets 9% on record volume (SGG) (by John Spence)

BOSTON (MarketWatch) -- The iPath Dow Jones-UBS Sugar Subindex Return ETN (SGG), an exchange-traded note designed to reflect the price of futures contracts, was down 9% in afternoon trading Thursday to lead all percentage decliners. More than 600,000 shares of the ETN had traded Thursday for a new volume record. The sugar ETN, which was launched in June 2008, has gained 18% over the past year.