After notching their best quarterly gains in many years, Wall Street saw a tumultuous ride to start the new quarter thanks to rise in Treasury yields. This is especially true as the S&P 500 index logged its worst weekly performance since the week of Sep 7, dropping 1% while the tech-heavy Nasdaq fell 3.2%, marking its biggest weekly drop since the week of Mar 23.

The 10-year Treasury yields climbed to the highest level in more than seven years and raised fears over faster-than-expected rate hikes. The slew of upbeat data signaling strong economic growth has also added to the strength in yields. A higher yield has dampened enthusiasm for equities, as it would increase inflation thereby raising the cost of products. This in turn would affect consumer spending and is a headwind to the stock market. In particular, the U.S. unemployment rate fell to near a 49-year low and wages have been on a modest rise, suggesting moderate inflationary pressure.

However, a booming economy coupled with strong corporate earnings is a positive for stocks. Historic tax cuts, higher government spending and deregulation are spurring growth. Robust job gains, growing wages, increasing consumer spending, a recovering housing market and an 18-year high consumer confidence will continue to drive the longest bull run.

Against such a bullish backdrop, beaten down prices reflect a good entry point for investors. Below, we have highlighted five solid picks from both the ETF and the stock worlds that were in red over the past week but have a solid upside potential. Most of these even have a Zacks Rank #1(Strong Buy) or 2 (Buy).

ETF Picks

Amplify Online Retail ETF (IBUY – Free Report)

This ETF has attracted $493.9 million in its asset base and offers global exposure to companies that derive 70% or more revenues from online and virtual retail by tracking the EQM Online Retail Index. The fund is home to 39 stocks that are widely diversified, with each holding less than 6.9% of assets. It trades in average daily volume of 113,000 shares and charges 65 bps in annual fees. The ETF fell 8.3% last week.