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ETF Trends reported that a downslide in the oil price in the United States is fast spreading to other financial markets, with the stocks of several companies plunging since Tuesday, when oil hit its lowest closing price since April 2009.
ETF Trends reported that a downslide in the oil price in the United States is fast spreading to other financial markets, with the stocks of several companies plunging since Tuesday, when oil hit its lowest closing price since April 2009.
As quoted in the market news,
Plenty of investors know that marquee energy exchange traded funds from the United States Oil Fund (NYSEArca: USO) to the Energy Select Sector SPDR (NYSEArca: XLE) have been hammered by oil’s plunge, but the pain does not end there.
The oil-inflicted pain does not end with those companies. Just ask solar ETFs. While USO has plunged nearly 46% over the past 90 days, making it one of the worst-performing non-leveraged ETFs over that period, the Guggenheim Solar ETF (NYSEArca:TAN) and the Market Vectors Solar Energy ETF (NYSEArca:KWT) are off 14% and 11.3%, respectively.