Exchange traded funds (ETFs) for commodities, energy stocks and emerging markets were the big losers Monday on news of a potential settlement in Libya.
Stocks and commodities ETFs closed Monday’s session lower after the International Monetary Fund said global economic growth should slow this year.
The largest oil ETF was down more than 3% Monday afternoon.
A gasoline ETF followed oil prices lower. The ETF has jumped 26% over the past three months with drivers in some U.S. cities paying more than $4 a gallon at the pump.
The iShares Silver Trust (NYSEArca: SLV) was down nearly 2% in late action. An options trader placed a large wager Monday that the ETF would decline by July, according to reports.
Tom Lydon appeared on CNBC’s The Call on Monday morning to discuss commodity ETFs.
Commodities ETFs saw across-the-board losses Monday after Goldman Sachs analysts closed out a sector trade that they had in place since December 2010.