Tech Route Widens to Defensives, Financials
The only U.S.-focused
exchange-traded fund to end Monday in the plus column was the Utilities SPDR with a 1% gain.
Even the basic materials and industries funds, one of the rare areas of
strength, retreated. The financials followed the tech-focused ETFs to the
downside.
The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) fell 9.6%,
breaking below support on heavy volume. It was the day’s heaviest loss among the
exchange-traded funds.
The B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) lost
8.1%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 8.1%, the Dow Jones Technology
iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 7.2%, the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) 7.1%, the Nasdaq 100
Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) 6.9%, the Wireless HOLDR
(
WMH |
Quote |
Chart |
News |
PowerRating) 6.5%, the Software
HOLDR
(
SWH |
Quote |
Chart |
News |
PowerRating) 5.9%.
Among the financials, the Regional
Banking HOLDR
(
RKH |
Quote |
Chart |
News |
PowerRating) dropped 6.7%, the Financial SPDR
(
XLF |
Quote |
Chart |
News |
PowerRating) 5.3%, the Dow
Jones Financial Services iShares
(
IYG |
Quote |
Chart |
News |
PowerRating) 4.9%, the Dow Jones Financial iShares
(
IYF |
Quote |
Chart |
News |
PowerRating) 4.6%.
Even the defensive healthcare ETFs
fared poorly. The Dow Jones Healthcare iShares
(
IYH |
Quote |
Chart |
News |
PowerRating) subtracted 4.4%, the
Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) 3.6%. Both have broken down from sideways ranges.
