Exchange-traded funds related to financials were the worst performers of a losing week following several disappointing quarterly reports.
Over the course of the week,
Bank of America
, among others, were out with lackluster earnings reports. Each fell by at least 8%.
Ultra Financial ProShares
ETF tumbled 14.3% to $52.10. The
iShares Dow Jones U.S. Broker-Dealers
ETF was lower by 6.9% to $51.32. The
ETF lost 6.8% to $49.54.
ETFs tracking homebuilders were also among the worst decliners as concern from the
, weak economic data and an earnings warning joined to sink the sector. Late Monday, Fed Chairman Ben Bernanke was out with negative comments, saying that "the further contraction in housing is likely to be a significant drag on growth in the current quarter and through early next year."
On Tuesday, homebuilder
said that fourth-quarter net sales were nearly halved to $1.3 billion from a year ago due to cautious buyers and a tough housing environment.
The news got worse on Wednesday, when the Census Bureau said that housing starts plummeted 10.2% last month to a 14-year low. Building permits tumbled 7.3% to 1.22 million, also below expectations.
For the week, the
iShares Dow Jones U.S. Home Construction
ETF sank 10.7% to $19.40. The
SPDR S&P Homebuilders
ETF shed 9.9% to $20.72.
Retail-related ETFs also finished with losses for the week. Among individual names,
were all lower by 2.8% or more.
SPDR S&P Retail
ETF ended down 7.8% to $37.38. The
PowerShares Dynamic Retail
ETF eased 6.3% to $17.11. The
fell 5.5% to $96.48.
On the other hand, energy-related ETFs were among few winners as crude set multiple records during the week. The November benchmark contract broke the $90-a-barrel level, adding 5.9% over the course of the week to close at $88.60.
United States Oil
added 4.9% to $67.14. The
iPath S&P GSCI Crude Oil Index
ETF finished up 4.9% to $49.71.