Tuesday's ETF Winners & Losers
Exchange-traded funds tracking homebuilders and REITs were falling hard Tuesday, as traders continued to fret about the health of credit markets.
Among REIT-related ETFs, the iShares FTSE NAREIT Mortgage REITs (REM) was dropping $2.13, or 7.1%, to $27.73. The Ultra Real Estate ProShares (URE) gave back $2.38, or 5.6%, to $39.97. The iShares FTSE NAREIT Residential (REZ) was tumbling $1.31, or 2.9%, to $44.24.
Homebuilders were feeling the crunch as well. Beazer Homes (BZH) gave back 9% after Fitch Ratings downgraded its debt again. Meanwhile, Centex (CTX), Hovnanian (HOV) and Meritage Homes (MTH) were losing 3% or more.
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