Bundled securities tracking homebuilders, financials and REITs were the worst performers of a losing week for stocks as the health of the credit markets continued to deteriorate.
Among REIT-related ETFs, the
iShares FTSE NAREIT Mortgage REITs
(REM) dropped 18.4% for the week to $32.11. The
iShares FTSE NAREIT Retail
(RTL) ETF shed 4% to $39.04. The
Ultra Real Estate ProShares
(URE) ETF slid 2.2% to $40.45.
In the financial sector,
(BSC) was crushed following several negative headlines during the week. On Friday finance chief Sam Molinaro said during a conference call that the credit market was "about as bad as I've seen it in 22 years." The stock ended with an 11.7% loss on the week.
Other lenders and finance names fell hard, as well.
(MER) slid 6.5% or more.
Rydex S&P Equal Weight Financials
ETF dropped 3.3% to $45.17. The
PowerShares Dynamic Financials
ETF gave back 3.2% to $23.80. The
First Trust Financials AlphaDex
ETF ended down 2.7% to $17.71.
Homebuilders were also feeling the crunch. On Wednesday,
(BZH - Get Report)
plunged as much as 40% and dragged down the rest of the homebuilding sector amid rumors the company was facing a liquidity problem. Beazer quickly moved to deny the speculation, but still ended with a 27% decline for the week.
iShares Dow Jones U.S. Home Construction
ETF tumbled 7% to $25.15. The
SPDR S&P Homebuilders
ETF finished the week lower by 5% to $25.44.
On the flipside, the
PowerShares Lux Nanotech
ETF was one of few winners during the week, thanks to gains in several of its holdings.
surged 35%, and
added 5.7% on the week. The PowerShares Lux Nanotech ETF climbed 3.9% to end the week at $17.10.