TrackInsight: Banks ETFs plunge as Fed fails to convince

ETFs seeking to replicate banks indices experienced a tough market session on Thursday plunging -6,91% as well as investors having redeemed $537,68M of shares from the segment. Investors might just have turned bearish again after the Fed failed to convince about its capabilities amid lasting economic pain. Yesterday’s session brought back the cumulative performance to -23,07%. Investors redeemed $486,26M of shares over the same period. 24 funds tracking 14 indices are included in the segment for a total of $21,65Bn of assets under management.