ETFs Catch Election Blues
Election uncertainty hit the market
for a second day Thursday, dragging broadly on tech, cyclical and basic
materials exchange-traded funds. Financial ETFs held up.
The
B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) slumped 8.6%, the sharpest loss among the tradable
funds.Â
Components
Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) fell 9.6%, VerticalNet
(
VERT |
Quote |
Chart |
News |
PowerRating), 13.0%. Internet Capital
Group
(
ICGE |
Quote |
Chart |
News |
PowerRating) plunged 31.2%. After Wednesday’s close, ICG reported a Q3
loss, including items, of 94 cents a share vs. a prior-year loss of 7 cents a
share. The Internet incubator also said it would take a charge of $25 million to
$30 million in Q4 to cover a 35% staff cut.
The
Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) lost 7.2%, the Dow Jones Internet Index iShares
(
IYV |
Quote |
Chart |
News |
PowerRating)
6.8%, the Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) 4.7%, the Internet
Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) 2.7%.
The
losses were not limited to the tech sector. The Consumer Services SPDR
(
XLV |
Quote |
Chart |
News |
PowerRating)
declined 4.6%, the Dow Jones Consumer Cyclical iShares
(
IYC |
Quote |
Chart |
News |
PowerRating) 4.6%, the
Cyclicals-Transportation SPDR
(
XLY |
Quote |
Chart |
News |
PowerRating) 4.0%, the Dow Jones Basic Materials
iShares
(
IYM |
Quote |
Chart |
News |
PowerRating) 2.9%.
