Updated from 12:50 p.m. EDT with new stock prices
Exchange-traded funds related to crude oil were among the worst decliners of Tuesday's losing session, as oil prices pulled back sharply from record highs.
Last time out, the December crude contract set a record close of $93.53 a barrel, but prices were recently down at $90.38 a barrel. Several oil companies fell in lockstep with the slide in oil prices, including
Among ETFs, the
Ultra Oil & Gas ProShares
was down $7.58, or 6.5%, to $109.13. The
SPDR S&P Oil & Gas Equipment & Services
was losing $1.60, or 4%, to $38.39. The
Oil Services HOLDRs
was off $7.91, or 4.1%, to $185.71. The
iShares Dow Jones U.S. Oil Equipment Index
slid $2.45, or 3.8%, to $61.53.
ETFs tracking the financial sector were also under pressure after the
said embattled CEO Stan O'Neal has decided to leave the firm, effective immediately. Rumors of O'Neal's departure had boosted the stock 10.7% higher over the previous two sessions, but shares of Merrill were recently down 2.8%.
Ultra Financials ProShares
declined by 82 cents, or 1.5%, to $54.17. The
iShares Dow Jones U.S. Broker-Dealers
was lower by 61 cents, or 1.1%, to $54.03. The
Financial Select Sector SPDR
was recently down 38 cents, or 1.1%, to $33.42.
Bundled securities tracking the homebuilding sector were up, however. Among individual names,
were all higher.
iShares Dow Jones U.S. Home Construction
was up 15 cents, or 0.7%, to $21.43. The
SPDR S&P Homebuilders
was climbing 30 cents, or 1.3%, to $22.80.
Real estate-related ETFs were also among few winners after
Vornado Realty Trust
posted third-quarter revenue that beat expectations. The realty company also reported funds from operations that matched estimates.
Vanguard REIT Index
ETF was adding 84 cents, or 1.2%, to $71.34. The
iShares FTSE Nareit Retail
was up 87 cents, or 2%, to $44.50.