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Treasury ETFs Rise Amid Stock Slide

NEW YORK ( TheStreet) -- 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%.

The PowerShares DB Treasury ETN (LBND), an exchange-traded note that takes a leveraged long view on treasury bonds,rose 1.9%. The iShares Barclays 20+ Year Treasury Bond (TLT) gained 1.3%, while the Pimco 7-15 year Treasury (TENZ) appreciated 0.7%.

Financial ETFs were among the worst hit, with the iShares S&P Global Financials (IXG), which offers an exposure to large-cap, global banks including Banco Santander (SAN) and HSBC (HSC), tanked 4.6%.

Commodity stock ETFs were weaker. The Global X Copper Miners ETF (COPX) plunged 5.7%, while the Market Vectors Steel ETF (SLX) is down 4.9%.

--Reported by Shanthi Venkataraman in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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HBC $0.00 0.00%
TENZ $86.13 0.37%
COPX $17.19 0.00%
IXG $50.86 0.00%
LBND $56.70 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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