TradingMarkets 7 ETFs You Need to Know for Friday

Widespread selling in stocks has dragged many exchange-traded funds lower, with emerging markets ETFs and index ETFs joining sectors-based funds on the retreat. Pullbacks were especially notable in the transportation sector as well as in oil-related ETFs.

Inverse ETFs - both leveraged and unleveraged - were major beneficiaries on the day. The most widely traded inverse ETFs tracking the S&P 500, Russell 2000 and Dow industrials were all sharply higher.

Here are 7 ETFs You Need to Know for Friday.

Closing at its highest levels since mid-July, the ProShares UltraShort Russell 2000 exchange-traded fund, TWM (TWM | Quote | Chart | News | PowerRating), gained more than 9% on Thursday.

Among the harder hit emerging markets ETFs on Thursday was the iShares Brazil Index fund, EWZ (EWZ | Quote | Chart | News | PowerRating), which was down nearly 13% late on trading.

Despite plunging crude oil prices, the iShares Transportation Average index ETF, IYT (IYT | Quote | Chart | News | PowerRating), lost more than 8% on Thursday.

The iShares MSCI Emerging Markets Index fund, EEM (EEM | Quote | Chart | News | PowerRating) was down more than 8% on Thursday, retracing the past two day's worth of gains.

Two days of selling were the prelude to a surge in buying in the ProShares UltraShort Oil & Gas ETF, DUG (DUG | Quote | Chart | News | PowerRating). DUG was up more than 13% late in trading on Thursday.

On Thursday, the Select Energy Sector SPDRS, XLE (XLE | Quote | Chart | News | PowerRating) plunged more than 5% to new year-to-date closing lows.

After consolidating near the 200-day moving average for the past several days, the Select Gold Shares SPDRS, GLD (GLD | Quote | Chart | News | PowerRating) broke down on Thursday, losing more than 3%.