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StreetInsider.com ETF Movers: Financial ETFs Crushed (XLF, KBE, KRE, RKH); Semi ETF (SMH) Sees a Bid
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StreetInsider.com ETF Movers:
Financial ETFs are lower again following the large losses at AIG (NYSE: AIG) and the auction rate securities settlement at Citigroup (NYSE: C). Financial Select Sector SPDR (AMEX: XLF) down 5.5%, KBW Bank ETF (AMEX: KBE) down 6%, KBW Regional Banking ETF (AMEX: KRE) down 3.3%, Regional Bank HOLDRs (AMEX: RKH) down 3%.
iShares Dow Jones US Broker-Dealers (NYSE: IAI) is down 4% as the i-banks see major selling after recent rallies off the lows. Holding Merrill Lynch (NYSE: MER) is down 9%, Lehman Brothers (NYSE: LEH) is down 12.7%.
Semiconductor HOLDRs (AMEX: SMH) is 2.2% higher. Nothing specific, but traders a moving into some of the larger holding in the ETF including Applied Materials Inc. (Nasdaq: AMAT) up 3%. Some have suggested fast money is moving out of commodities and into tech.
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