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.
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.
However, natural-gas ETFs did buck the downward trend and ended with gains.
Treasuries were little changed following news over the weekend that PIMCO’s Bill Gross stepped up his bearish wager on U.S. debt.
A Japanese-stock ETF was fractionally lower in late U.S. trading Monday after Tokyo was hit by another aftershock.
For full disclosure, Tom Lydon’s clients own SLV.
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