ETF Trends
ETF Trends

The iShares Dow Jones Broker-Dealer (IAI) exchange traded fund (ETF) tumbled to an all-time low on Friday, another victim of Bear Stearns’ (BSC) woes. It lost 4.2% in trading at the end of last week, and the investment bank is 4.1% of the fund’s assets.

Wanfeng Zhou for Forbes reports that the tumble came from news that Bear Stearns suffered a liquidity crisis after realizing its coffers had gotten dangerously low. Temporary emergency financing was loaned by the government and Stearns’ rival, J.P. Morgan Chase and Company.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.