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Exchange-traded funds tracking financial names were among the worst decliners of a holiday-shortened week on Wall Street following more disappointing writedown news and several credit downgrades.

For the week, the

iShares S&P Global Financials

(IXG)

ETF eased 3% to $79.67. The

iShares Broker-Dealers

(IAI)

ETF slumped 1.6% to $50.81. The

Financial Select Sector SPDR

(XLF)

ETF lost 1.5% to $28.86.

On Wednesday, Goldman Sachs increased its writedown projections for

Citigroup

(C)

,

Merrill Lynch

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TheStreet Recommends

(MER)

and

JPMorgan Chase

(JPM)

. The firm now expects a combined $33.6 billion in fourth-quarter writedowns to be announced.

During the same trading session, Fitch Ratings said it placed the credit ratings for residential mortgage-backed securities backed by bond insurers on watch for a possible downgrade. Among those that could be affected are securities insured by

MBIA

(MBI)

,

Ambac Financial

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and

Security Capital Assurance

(SCA)

.

Homebuilders also finished lower for the week. On Friday, the Census Bureau said that new-home sales plummeted 9% last month to 647,000 annualized units. Making things worse was news that new-homes inventory rose to 9.3 months.

The

iShares Dow Jones U.S. Home Construction

(ITB)

ETF gave back 4.7% to $17.25. The

SPDR S&P Homebuilders

(XHB)

ETF lost 3.1% to end the week at $18.87.

On the other hand, energy-related ETFs were among few winners of the week as crude added 2.9% over the four sessions, ending at $96 a barrel.

The

iPath S&P GSCI Crude Oil Index

(OIL)

rose 3.1% to $56.04. The

PowerShares DB Oil

(DBO)

was up 2.9% to $34.57. The

United States Oil

(USO)

added 2.8% to $75.90.

Bundled securities tracking gold futures were also higher for the week. Gold futures added 3.3% for the week to close at $842.70 an ounce.

The

Market Vectors Gold Miners

(GDX)

ETF finished up 5.4% at $46.66. The

iShares Comex Gold Trust

(IAU)

ETF climbed 3.6% to $83.03. The

streetTRACKS Gold Shares

(GLD)

ETF rose 3.5% to $82.89.