Monday's ETF Winners & Losers
Exchange-traded funds tracking homebuilders and REITs were all falling hard for a second straight session Monday, as investors continued to fret about the health of credit markets.
Shares of American Home Mortgage (AHM) slid 36% before the stock was halted following word the company has filed for bankruptcy protection. On Friday, American Home Mortgage said it would slash roughly 90% of its work force.
Among REIT-related ETFs, the iShares FTSE NAREIT Mortgage REITs (REM) was dropping $2.04, or 6.4%, to $30.07. The Ultra Real Estate ProShares (URE) gave back $1.53, or 3.8%, to $38.88. The SPDR Dow Jones Wilshire International Real Estate (RWX) ETF was tumbling 84 cents, or 1.4%, to $59.05.
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