Exchange traded funds tracking silver and oil were among the steepest decliners in the commodity complex Tuesday as higher margin requirements and lingering questions about the Federal Reserve’s bond buying program rocked the ETFs.

The iShares Silver Trust (NYSEArca: SLV) was down nearly 5% in afternoon trading Tuesday on volume of about 140 million shares. CME Group late Monday raised margin requirements for Comex silver futures, the third such hike in about a week.

Meanwhile, oil ETFs dropped sharply Tuesday in afternoon dealings. U.S. Oil Fund (NYSEArca: USO) fell 2% after trading flat for most of the session.

ETFs that provide daily leverage in commodities markets were trounced Tuesday. ProShares Ultra Silver ETF (NYSEArca: AGQ) was down more than 10%. Shares of the leveraged silver ETF recently topped out at about $382. Its session low so far Tuesday is roughly $261, meaning the ETF has lost nearly a third of its value since last week’s high.

Full disclosure: Tom Lydon’s clients own SLV.

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