Financial ETFs Routed

John Spence is reporting on MarketWatch that Financial ETFs were routed as Citigroup plunged more than 20% in today’s trading.

Citi is a large component of State Street’s Financial Select Sector SPDR Fund (XLF) which was down over 10% today. ETF investors who took a short position in ProShares UltraShort Financials (SKF) were up over 21% today.

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