Semis Roll Over
Investors hammered U.S. shares
Wednesday, sending the tradable funds lower nearly across the board, with the
Semiconductor HOLDR and other tech-focused exchange-traded funds leading their
peers south.
The Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating)
tumbled 4.4%. Disappointing sales growth at chipmaker LSI Logic
(
LSI |
Quote |
Chart |
News |
PowerRating), a
component in the HOLDR, kicked off selling in the sector.
Most of the Internet-focused funds
took losses but came off the day’s lows. The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
shed 3.0%, the B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 2.7%, the Dow Jones Internet Index
iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 2.4%, the Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 2.3%, the Dow Jones
Telecommunications iShares
(
IYZ |
Quote |
Chart |
News |
PowerRating) 2.3%.
Blue chips weren’t spared. The
Diamonds trust
(
DIA |
Quote |
Chart |
News |
PowerRating), which tracks the Dow Jones industrial average, dropped
1.2% to its lowest close in three weeks.
Since the Nasdaq came off its lows in
late May, biotechs have often marched to a different drummer versus the techs. The
Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) rose 0.9%.
The Energy SPDR
(
XLE |
Quote |
Chart |
News |
PowerRating) was the only
other U.S.-focused exchange-traded fund to register an appreciable gain. It
picked up 0.8% in an inside day within a steep downtrend.
