Bundled securities following U.S. Treasuries were among few winners of a weak session Thursday, as traders made a flight to quality from falling equities into bonds.

The 10-year note was rallying 27/32 in price, yielding 4.79%, and the 30-year bond was higher by 1 3/32, yielding 4.95%.

The iShares Lehman 20+ Year Treasury Bond ( TLT) was adding 97 cents, or 1.1%, to $87.28. The SPDR Lehman Long Term Treasury ( TLO) was higher by 45 cents, or 0.9%, to $50.61. The iShares Lehman 10-20 Year Treasury Bond ( TLH) was up 75 cents, or 0.8%, to $99.45.

Nearly every other sector-related ETF was trading lower, particularly basic-materials-related funds. Among individual stocks, Alcoa ( AA), Dow Chemical ( DOW) and Freeport-McMoRan ( FCX) slumped 5% or more.

The Ultra Basic Materials ProShares ( UYM) dropped $8.27, or 8.9%, to $84.31. The iShares Dow Jones U.S. Basic Materials ( IYM) was down $2.92, or 4.1%, to $68.74. The Vanguard Materials ( VAW) ETF was shedding $3.39, or 4%, to $82.53. The Materials Select Sector SPDR ( XLB) was losing $1.56, or 3.8%, to $39.64.

The Internet Infrastructure HOLDRs ( IIH) was also hit hard, as holding Akamai Technologies ( AKAM) plummeted 20% after being downgraded by three firms a day after reporting earnings in line with analysts estimates and beating revenue expectations. The ETF was losing 39 cents, or 7%, to $5.19.

Utility-related ETFs were also getting crushed. Among individual names, Exelon ( EXC), Entergy ( ETR), and Public Service Enterprise Group ( PEG) were all losing at least 3%.

The Ultra Utilities ProShares ( UPW) was dropping $4.67, or 5.9%, to $74.92. The Utilities Select Sector SPDR ( XLU) shed $1.07, or 2.7%, to $38.53. The Utilities HOLDRs ( UTH) was down $3.77, or 2.7%, to $138.52.

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