Exchange-traded funds tracking semiconductors were among the worst performers Wednesday, after a bearish analyst report on expected chip prices and
Micron was sliding nearly 9% after swinging to a fiscal fourth-quarter loss, while Merrill Lynch initiated coverage of
Advanced Micro Devices
with underweight ratings.
Ultra Semiconductor ProShares
was shedding $3.71, or 4.1%, to $87.58. The
was losing 89 cents, or 2.23, to $38.07. The
iShares S&P GSTI Semiconductor
was off $1.49, or 2.2%, to $67.53.
Funds tracking Chinese markets also were among the losers. Hong Kong's Hang Seng index lost 719.81 points overnight.
iShares FTSE/Xinhua China 25 Index
was losing $11.09, or 5.9%, to $178.40. The
SPDR S&P China
was shedding $5.67, or 5.8%, to $92.94. The
PowerShares Golden Dragon Halter USX China
was off $1.61, or 4.6%, to $33.21.
Funds tracking homebuilders were among the session's few winners, as several holdings continued their run-up a second day.
were all up more than 3.5%.
iShares Dow Jones US Home Construction
was gaining 60 cents, or 2.7%, to $22.46. The
iShares FTSE NAREIT Residential
was adding 79 cents, or 1.7%, to $48.70.
Biotech- and pharmaceutical-related funds also were among the winners.
were all adding more than 3%.
SPDR S&P Biotech
was gaining $1.01, or 1.7%, to $59.56. The
Ultra Health Care ProShares
was tacking on 75 cents, or 1%, to $74.70. The
was adding 74 cents, or 0.9%, to $81.82.