Financial exchange traded funds were the biggest sector decliners in Tuesday’s down market after a five-day rally.
Financial Select Sector SPDR Fund was off more than 1% along with top holding Bank of America . In the tech sector, the Nasdaq-100 PowerShares QQQ held steady thanks in part to a 1.3% rise in key component Apple .
In commodities markets, oil and precious metals ETFs traded sharply higher Tuesday. U.S. Oil Fund added 2%, SPDR Gold Shares rose 1.4% and iShares Silver Trust rallied 3.2%.
Miner stocks were also strong Tuesday — Market Vectors Gold Miners climbed 2.3% and Global X Silver Miners rose 3.7%.
Renewed worries over Europe’s debt crisis and Chinese banks pushed Treasury ETFs higher after last week’s rout.
Muni bond ETFs are back in the spotlight with a government shutdown in Minnesota illustrating the difficult fiscal situation many states are facing.
In industry news, the recent falloff in the CBOE Volatility Index following a spike earlier this month has prompted the automatic redemption of a Barclays exchange traded note designed to track VIX futures.
Financial Select Sector SPDR Fund
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