NEW YORK (
) -- Treasury ETFs were among the few ETFs that saw buying interest on Wednesday, as concerns about the economic recovery sent the Dow crashing 264 points. Treasuries also got a boost from the Fed's decision to buy more treasury notes to keep the economy afloat.
Stocks fell across-the-board on Wednesday, a day after the Fed said it expects the U.S. recovery to slow and maintained rates at record lows. The U.S. trade deficit rose 19%, adding to concerns about the economy. That sent equities lower and bond prices higher. The 10-year treasury yield hit record lows at 2.68%.
PowerShares DB Treasury ETN
, an exchange-traded note that takes a leveraged long view on treasury bonds,rose 1.9%. The
iShares Barclays 20+ Year Treasury Bond
gained 1.3%, while the
Pimco 7-15 year Treasury
Financial ETFs were among the worst hit, with the
iShares S&P Global Financials
, which offers an exposure to large-cap, global banks including
, tanked 4.6%.
Commodity stock ETFs were weaker. The
Global X Copper Miners ETF
plunged 5.7%, while the
Market Vectors Steel ETF
is down 4.9%.
--Reported by Shanthi Venkataraman in New York.
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