Financial ETFs Pulled Down by Lehman and AIG

Smart Money’s Rob Wherry looked into the impact of Wall Street’s financial troubles in his article Lehman, AIG Drag Down Financial ETFs.

Wherry notes that Lehman’s share price spiraled lower as it tried to find an outright buyer and any government intervention seemed like a long shot.

The iShares Dow Jones U.S. Broker-Dealers ETF (IAI) was down 15.4% last week and the iShares Dow Jones U.S. Insurance ETF (IAK) lost 10.5%, mostly due to the selloff in AIG shares.

For additional analysis, see the article “Lehman, Merrill, AIG and BofA” at ETF MarketPro.

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