Notable ETF Movers of the Day 08/11: VXX, UUP Higher; SPY, XLK, USO Lower

• iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) up 7.23% to $22.84. The CBOE VIX near-term index is trading about 14.5% higher, as markets dove on Fed comments and QE yesterday, not to mention an increased trade balance today.
  
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 1.74% to $23.93. Investors turning to the currency as the Fed noted that the U.S. recovery is losing momentum and as industrial growth in China slowed from 11.9% in Q110 to 10.3% in Q210.

• SPDRs (NYSE: SPY) down 2.5% to $109.60, and PowerShares QQQ (Nasdaq: QQQQ) down 2.8% to $45.37. Markets are taking a big "correction" today as economic recovery in the U.S. is looking bleaker after Fed comments yesterday.
  
  
• Technology Select Sector SPDR (NYSE: XLK) down 2.34% to $21.68. Though many stocks are lower today, along with the broader markets, the tech ETF is being notably led by Apple, Inc. (Nasdaq: AAPL), which is down 3.2% to $251.20 today.
  
  
• United States Oil (NYSE: USO) down 2.43% to $35.00. The EIA came in with a 2.99 million barrel drop in crude inventories for the week ended August 7, 2010, but a slowing economic recovery is overshadowing the data.

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