ETF Trends
ETF Trends

Gold exchange traded funds rose on Wednesday while Portuguese bond yields surged one day after Moody’s slashed its debt rating on government debt into “junk” status.

CurrencyShares Euro Trust (NYSEArca: FXE) was down nearly 1% at last check on worries credit woes are spreading from Greece and into other weaker countries on the periphery such as Portugal and Ireland.

SPDR Gold Shares (NYSEArca: GLD) was up about 1% as gold futures rallied to $1,530 an ounce.

The “risk-off” mood in markets was also seen in ETFs tracking the dollar, Treasuries and CBOE Volatility Index futures.

The iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) added 2.2%, PowerShares DB US Dollar Bullish (NYSEArca: UUP) rose 0.7% and iShares Barclays 20+ Year Treasury Bond (NYSEArca: TLT) climbed 0.5%.

The Portugal downgrade hammered ETFs that invest in European stocks. The largest percentage decliners Wednesday included iShares MSCI Europe Financials (NasdaqGM: EUFN), iShares MSCI Spain (NYSEArca: EWP) and iShares MSCI Italy (NYSEArca: EWI). All suffered declines of at least 2%.

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