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Treasury ETFs Rise Amid Stock Slide

Treasuries rise amid stock declines a day after the Fed said economic recovery would be slower.

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) - Get iShares 20+ Year Treasury Bond ETF Report

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

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TheStreet Recommends

(IXG) - Get iShares Global Financials ETF Report

, which offers an exposure to large-cap, global banks including

Banco Santander

(SAN) - Get Banco Santander S.A. Sponsored ADR (Spain) Report

and

HSBC

(HSC) - Get Harsco Corporation Report

, tanked 4.6%.

Commodity stock ETFs were weaker. The

Global X Copper Miners ETF

(COPX) - Get Global X Copper Miners ETF Report

plunged 5.7%, while the

Market Vectors Steel ETF

(SLX) - Get VanEck Steel ETF Report

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.