Sell-Off Intensifies, Spreads To REITs [Daily Recap]

February 25, 2020 | Hoya Capital

Sell-Off Intensifies, Spreads To REITs [Daily Recap] Uncategorized Feb 25 Written By The sell-off intensified on Tuesday for U.S. equity markets amid escalating concerns over the coronavirus outbreak as the major indexes wiped out their gains for the year. Following 3% declines yesterday, the S&P 500 finished lower by another 3.0% today while the Dow Jones Industrial Average dipped by more than 875 points after sliding 1,000 points yesterday. The 10-Year Treasury Yield dipped to a historic intra-day low below the previous 2016-lows of 1.32% as investors begin to price in a more aggressive monetary policy response.

Not even the domestic-focused real estate sector could escape the contagion today as the broad-based commercial Real Estate ETF (VNQ) finished lower by 2.7%, but still delivering another day of relative outperformance. Lost in the contagion fears were strong earnings from Home Depot and residential brokerage firm Realogy, each citing strengthening fundamentals in the US housing market. Real Estate Daily Recap The sell-off intensified on Tuesday for U.S. equity markets amid escalating concerns over the coronavirus outbreak as the major indexes wiped out their gains for the year.

Following 3% declines yesterday, the S&P 500 ETF ( SPY ) finished lower by another 3.0% today while the Dow Jones Industrial Average ( DIA ) dipped by more than 875 points after 1,000 point losses yesterday. The 10-Year Treasury Yield ( IEF ) dipped to a historic intra-day low below the previous 2016-lows of 1.32% as investors begin to price in a more aggressive monetary policy response from the Federal Reserve.

Not even the domestic-focused real estate sector could escape the contagion today as the broad-based commercial Real Estate ETF ( VNQ ) finished lower by 2.7%, but still delivering another day of relative outperformance. A sell-off from the recently high-flying single-family homebuilding sector weighed on the Hoya Capital Housing Index , the benchmark that tracks the performance of the US Housing Industry, despite ...