Exchange-Traded Funds Fall as US Equities Drop After Midday

MT Newswires Live
02/27

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) lost 1.8%.

US equity indexes fell midday Thursday amid a sell-off in semiconductor companies, pushing technology lower after Nvidia (NVDA) reported quarterly results overnight.

Energy

IShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 0.9%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 2.1%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) were also lower.

The State Street SPDR S&P Semiconductor (XSD) dropped 2.7%, and iShares Semiconductor (SOXX) was down 4%.

Financial

The State Street Financial Select Sector SPDR (XLF) rose 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 1.8%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 1.5%.

Commodities

Crude oil added 1.7%, and the United States Oil Fund (USO) was up 1.5%. Natural gas fell 2.5%, and the United States Natural Gas Fund (UNG) lost 2.7%.

Gold on Comex fell 0.8%, and the State Street SPDR Gold Shares (GLD) rose 0.3%. Silver lost 4.9%, and iShares Silver Trust (SLV) was down 1.9%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) shed 0.4%. The Vanguard Consumer Staples ETF (VDC) fell while iShares Dow Jones US Consumer Goods (IYK) was up.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.7%. VanEck Retail ETF (RTH) lost 0.4%, and the State Street SPDR S&P Retail (XRT) rose 0.6%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was down 1.1%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) declined. IShares Biotechnology ETF (IBB) fell 2.5%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was steady. Vanguard Industrials Index Fund (VIS) fell, while iShares US Industrials (IYJ) was little changed.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) fell 3.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 3.4%, ProShares Ether ETF (EETH) fell 4.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) shed 3.7%.

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