NEW YORK (
) -- Weak existing-home sales data and worse-than-expected results from
Barnes & Noble
contributed to broad market weakness that is weighing on healthcare ETFs.
Healthcare stocks are trading lower after market leader Medtronic reported a decline in sales in the fiscal first-quarter and lowered its outlook for revenue and earnings for the year through next April. The
iShares Dow Jones US Medical Devices
, which has a 13.3% stake in Medtronic, is down 3.3%. Other top holdings in the fund including
Thermo Fisher Scientific
were also weaker. The
PowerShares S&P SmallCap Health Care ETF
Health Care Select Sector SPDR
were declining by 0.9% and 1.8% respectively.
The 27% plunge in existing home sales data led to a selloff in the
SPDR KBW Mortgage Finance ETF
shedding 3.8%. The Homebuilder ETFs remarkably remained in the positive territory with the
SPDR Homebuilders ETF
rising 0.4% and the
Dow Jones Home Construction
Prominent among the gainers is the
CurrencyShares Japanese Yen Trust
, which is gaining 1.2% as the Yen touched a 15-year high against the dollar.
iShares Silver Trust
is another notable gainer in Tuesday trading, up 2.4%.
--Written by Shanthi Venkataraman in New York.
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