Wednesday's ETF Winners & Losers
Real estate-related exchange-traded funds were among the worst decliners Wednesday, as subprime woes continued to swell.
On Wednesday, Standard & Poor's said it could cut its rating on $12 billion in securities backed by subprime residential loans, which raised concerns about the ongoing effects of the housing meltdown.
The iShares FTSE NAREIT Retail (RTL) ETF was losing $1.29, or 3%, to $42.21. The iShares FTSE NAREIT Real Estate 50 (FTY) ETF was down 60 cents, or 1.3%, to $44.79. The Ultra Real Estate ProShares (URE) was off 54 cents, or 1.1%, to $49.91.
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