Daily ETF Roundup: XLV Sinks, BLV Soars

U.S. equity markets continued their plunge on Tuesday after extremely weak housing data sent markets tumbling. The Dow finished down 1.2% while the S&P 500 and the Nasdaq posted losses of 1.3% and 1.5% respectively. This pushed investors into safe havens such as gold and Treasury bills which once again saw gains; gold prices finished above the $1,230 mark while the Ten Year Bond yield plunged to below 2.5%. This gloomy day came after existing home sales slumped by 27.2% compared to last month and to the lowest level in 15 years. Economists were also off by nearly one million units in their forecast, underscoring just how quickly the bottom has fallen out of the housing market. “The numbers in the housing market just reinforced the notion that housing has double-dipped,” said Quincy Krosby, chief market strategist at Prudential Financial. “That in and of itself is worrisome because the retail [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: VXX Soars, EWZ Sinks Daily ETF Roundup: GDX Soars, VXX Sinks Daily ETF Roundup: VXX Sinks, EWZ Soars