A move by major central banks across the globe to deal with the European sovereign debt crisis led to protective put selling across a range of U.S. exchange-traded funds (ETFs), Reuters reports. The put sales comprised ETFs tracking retail, consumer, mining, financial and energy sectors.
One big trade was in the Financial Select Sector SPDR fund and another was in the Consumer Discretionary Select Sector SPDR fund. The sales came after the U.S. Federal Reserve, the European Central Bank and other major central banks decided to offer dollar loans to prevent money markets from freezing.
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