Tuesday's Declines Were All Financials

Aside from Financials, Tuesday's losses weren't so bad.  Unfortunately, you can't ex out sectors.  The Financial sector contributed to two-thirds of yesterday's 1.21% decline in the S&P 500. 

As shown below, the next biggest sector impacting the index on the downside was Consumer Discretionary at 10.6%.

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Below we highlight the recent performance of key ETFs.  These cover the majority of asset classes and give readers a quick look at what's been moving higher and what's been moving lower.  The red and green arrows show that US equities have been doing much better than foreign equity markets lately. 

Over the last month, SPY is up 5.40%, and India (INP) is the only foreign ETF that is doing better.  Within US equities, smallcap has been doing the best, as highlighted by the performance of IJR, IWM, IJT and IJS.  And dividend ETFs have also made quite a comeback.  Since last month, DVY is up a whopping 16%. 

Where equities have gained, commodities and foreign currencies have lost.  UNG (Natural Gas) is down 30% over the last month, followed by SLV (Silver), USO (Oil) and DBC.  And the British Pound (FXB), Euro (FXE) and Yen (FXY) are all down more than 3%, which is a big move for currencies.