Exchange-traded funds tracking the real estate and housing sector were among the worst performers Monday, after a
official offered a bearish outlook for the sector.
San Francisco Fed President Janet Yellen told the National Association for Business Economics that the recent financial market turmoil will prolong the housing sector adjustment.
Vornado Realty Trust
were both lower by more than 1%.
Ultra Real Estate ProShares
was falling 72 cents, or 1.7%, to $41.52. The
First Trust S&P REIT
ETF was down 69 cents, or 3.9%, to $17.11. The
SPDR Dow Jones Wilshire International Real Estate
was off by $1.32, or 2.2%, to $58.63.
Homebuilders and construction were also under pressure.
all slid by 2.4% or more.
PowerShares Dynamic Building & Construction
lost 48 cents, or 2.5%, to $1.71. The
SPDR S&P Homebuilders
was down 33 cents, or 1.4%, to $22.91. The
iShares Dow Jones U.S. Home Construction
shed 24 cents, or 1.1%, to $21.75.
Basic materials-related ETFs were also lower. Among individual stocks,
were losing 1% or more.
Ultra Basic Materials ProShares
eased $2.37, or 2.9%, to $79.36. The
iShares Dow Jones U.S. Basic Materials
was off 76 cents, or 1.1%, to $67.15. The
was down 98 cents, or 1.2%, to $80.07.
There were few winners during Monday's losing session. The
United States Natural Gas
ETF was rising 3.6% as natural gas tacked on 18 cents to $5.68 per million British thermal units. The ETF was up $1.23 to $35.57.