Exchange-Traded Funds Fall as US Equities Slump After Midday

MT Newswires Live
1 hour ago

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) slumped 3.5%.

US equity indexes tumbled, led by tech stocks, after a strong jobs report boosted expectations for an interest-rate increase this year.

Energy

IShares US Energy ETF (IYE) fell 1.6%, and the State Street Energy Select Sector SPDR (XLE) lost 1.4%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) slid 5.3%; iShares US Technology ETF (IYW) lost 4.5%, and iShares Expanded Tech Sector ETF (IGM) dropped 4.7%.

The State Street SPDR S&P Semiconductor (XSD) plunged 9.4%, and iShares Semiconductor (SOXX) fell 8%.

Financial

The State Street Financial Select Sector SPDR (XLF) rose 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was little changed, paring earlier declines, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.1%.

Commodities

Crude oil dropped 3.3%, and the United States Oil Fund (USO) lost 3%. Natural gas and the United States Natural Gas Fund (UNG) each shed 3.5%.

Gold on Comex lost 3.1%, and the State Street SPDR Gold Shares (GLD) fell 3.2%. Silver declined 6.4%, and iShares Silver Trust (SLV) fell 6.8%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) rose 2.1%. The Vanguard Consumer Staples ETF (VDC) added 2.1%, and iShares Dow Jones US Consumer Goods (IYK) gained 2.5%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 1%. VanEck Retail ETF (RTH) rose 0.7%, and the State Street SPDR S&P Retail (XRT) dropped 0.9%.

Healthcare

The State Street Health Care Select Sector SPDR (XLV) climbed 1.5%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) rose 1.1%. IShares Biotechnology ETF (IBB) shed 0.8%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) lost 0.6%. Vanguard Industrials Index Fund (VIS) declined 0.6%, while iShares US Industrials (IYJ) fell 1%.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) dropped 3.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.5%, ProShares Ether ETF (EETH) shed 10.8%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 5% lower.

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