Market Vectors Gold Miners (NYSEArca: GDX) plunged over 5% on Wednesday to the lowest levels since 2009 as precious metals ETFs tracking gold and silver were also under heavy pressure.
SPDR Gold Shares (NYSEArca: GLD) fell 1.4% while iShares Silver Trust (NYSEArca: SLV) dropped 1.3% in afternoon trade.
Gold futures touched $1,550 an ounce on Wednesday, the lowest reading in nine months.
Precious metals, oil and other commodities pulled back sharply along with U.S. stocks as the Dow shed 100 points. [Silver ETF Lowest Since August 2012 Amid Commodity Slump]
However, gold miner ETFs continue to fall harder than bullion prices recently as investors dial back on the safe-haven and inflation trades.
Direxion Daily Gold Miners Bear 3x Shares (NYSEArca: DUST), a leveraged ETFs that bets against the sector, rallied 15% on Wednesday.